Arvinas (NASDAQ:ARVN) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Arvinas (NASDAQ:ARVN) from a hold rating to a strong sell rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. 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. Truist Financial set a $10.00 target price on shares of Arvinas in a report on Wednesday, March 18th. Wall Street Zen cut shares of Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. BTIG Research increased their target price on shares of Arvinas from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Finally, Wedbush increased their target price on shares of Arvinas from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.88.

Arvinas Price Performance

NASDAQ ARVN opened at $10.22 on Monday. Arvinas has a 12 month low of $5.90 and a 12 month high of $14.51. The company has a market capitalization of $653.68 million, a price-to-earnings ratio of -7.98 and a beta of 1.97. The company’s fifty day moving average price is $11.63 and its two-hundred day moving average price is $11.66.

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

Insider Buying and Selling at Arvinas

In other news, Director Briggs Morrison purchased 20,000 shares of the stock in a transaction dated Friday, March 6th. The stock was acquired at an average price of $13.40 per share, for a total transaction of $268,000.00. Following the completion of the transaction, the director owned 96,021 shares of the company’s stock, valued at approximately $1,286,681.40. The trade was a 26.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Noah Berkowitz sold 6,435 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $11.10, for a total transaction of $71,428.50. Following the transaction, the insider owned 202,503 shares of the company’s stock, valued at $2,247,783.30. This represents a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have 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 modified their holdings of ARVN. Armistice Capital LLC grew its position in Arvinas by 50.0% in the 4th quarter. Armistice Capital LLC now owns 1,800,000 shares of the company’s stock valued at $21,348,000 after buying an additional 600,000 shares in the last quarter. TCG Crossover Management LLC bought a new position in Arvinas in the 3rd quarter valued at about $13,780,000. Qube Research & Technologies Ltd grew its position in Arvinas by 154.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock valued at $12,668,000 after buying an additional 903,337 shares in the last quarter. Millennium Management LLC grew its position in Arvinas by 208.4% in the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after buying an additional 885,483 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in Arvinas by 469.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock valued at $10,286,000 after buying an additional 995,125 shares in the last quarter. Institutional investors own 95.19% of the company’s stock.

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.