Arvinas (NASDAQ:ARVN) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen lowered shares of Arvinas (NASDAQ:ARVN) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

Several other research analysts have also issued reports on ARVN. Weiss Ratings raised Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. BTIG Research raised their price target on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Stephens reissued an “overweight” rating and issued a $18.00 price target on shares of Arvinas in a report on Wednesday, June 3rd. Citigroup boosted their price target on Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Barclays upped their price objective on shares of Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.42.

Arvinas Trading Down 0.2%

NASDAQ ARVN opened at $8.01 on Friday. The firm’s fifty day simple moving average is $8.30 and its two-hundred day simple moving average is $10.62. Arvinas has a 12-month low of $6.05 and a 12-month high of $14.51. The firm has a market capitalization of $516.81 million, a P/E ratio of -2.41 and a beta of 1.74.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.05. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The business had revenue of $15.60 million for the quarter, compared to the consensus estimate of $16.61 million. During the same period in the prior year, the firm posted $1.14 earnings per share. The business’s quarterly revenue was down 91.7% on a year-over-year basis. As a group, sell-side analysts predict that Arvinas will post -2.82 earnings per share for the current fiscal year.

Insider Activity at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 11,108 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $110,413.52. Following the sale, the insider owned 191,395 shares in the company, valued at approximately $1,902,466.30. This represents a 5.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Randy Teel sold 9,657 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $95,990.58. Following the sale, the chief executive officer directly owned 287,218 shares in the company, valued at $2,854,946.92. The trade was a 3.25% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 41,728 shares of company stock worth $402,649. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of Arvinas

A number of hedge funds have recently added to or reduced their stakes in the company. TCG Crossover Management LLC acquired a new stake in Arvinas during the third quarter valued at $13,780,000. Balyasny Asset Management L.P. raised its position in shares of Arvinas by 469.1% in the third quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after acquiring an additional 995,125 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Arvinas by 154.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after acquiring an additional 903,337 shares during the period. Millennium Management LLC boosted its stake in shares of Arvinas by 208.4% during the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after acquiring an additional 885,483 shares in the last quarter. Finally, Armistice Capital LLC boosted its stake in shares of Arvinas by 114.3% during the 3rd quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock worth $10,224,000 after acquiring an additional 640,000 shares in the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

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.