Arvinas (NASDAQ:ARVN) Trading Up 9.9% – Still a Buy?

Arvinas, Inc. (NASDAQ:ARVN) was up 9.9% during mid-day trading on Friday . The company traded as high as $10.33 and last traded at $10.8810. Approximately 222,458 shares traded hands during trading, a decline of 73% from the average daily volume of 810,316 shares. The stock had previously closed at $9.90.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ARVN shares. Wall Street Zen cut shares of Arvinas from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. Truist Financial set a $10.00 price objective on shares of Arvinas in a research report on Wednesday, March 18th. Wedbush raised their price target on Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Zacks Research downgraded Arvinas from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Finally, Piper Sandler reissued an “overweight” rating and set a $20.00 target price (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.13.

Arvinas Price Performance

The stock has a 50-day simple moving average of $11.54 and a 200-day simple moving average of $11.65. The stock has a market cap of $672.22 million, a P/E ratio of -8.21 and a beta of 1.79.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.55). The firm had revenue of $9.50 million for the quarter, compared to the consensus estimate of $37.26 million. Arvinas had a negative return on equity of 14.25% and a negative net margin of 30.77%.The business’s revenue for the quarter was down 84.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.63) earnings per share. As a group, sell-side analysts forecast that Arvinas, Inc. will post -3.26 earnings per share for the current year.

Insider Activity at Arvinas

In related news, CEO Randy Teel sold 4,786 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $12.16, for a total value of $58,197.76. Following the sale, the chief executive officer directly owned 149,696 shares in the company, valued at $1,820,303.36. This represents a 3.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew Saik sold 5,134 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $11.89, for a total value of $61,043.26. Following the completion of the sale, the chief financial officer owned 159,267 shares in the company, valued at $1,893,684.63. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 63,864 shares of company stock valued at $802,443. Corporate insiders own 4.73% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently added to or reduced their stakes in ARVN. Hsbc Holdings PLC lifted its holdings in shares of Arvinas by 20.8% in the 1st quarter. Hsbc Holdings PLC now owns 89,147 shares of the company’s stock worth $958,000 after purchasing an additional 15,368 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Arvinas by 38.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 172,808 shares of the company’s stock worth $1,832,000 after purchasing an additional 47,973 shares in the last quarter. Strs Ohio lifted its holdings in shares of Arvinas by 73.4% in the 1st quarter. Strs Ohio now owns 40,400 shares of the company’s stock worth $428,000 after purchasing an additional 17,100 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of Arvinas by 4.7% in the 1st quarter. Wasatch Advisors LP now owns 281,857 shares of the company’s stock worth $2,988,000 after purchasing an additional 12,708 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Arvinas by 10.3% in the 1st quarter. SG Americas Securities LLC now owns 86,231 shares of the company’s stock worth $914,000 after purchasing an additional 8,067 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

About Arvinas

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.