Arvinas, Inc. (NASDAQ:ARVN) Given Average Rating of “Hold” by Brokerages

Shares of Arvinas, Inc. (NASDAQ:ARVN) have earned an average rating of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.4167.

ARVN has been the topic of a number of research reports. Weiss Ratings upgraded shares of Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. BTIG Research lifted their price target on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded Arvinas from a “strong sell” rating to a “sell” rating in a research report on Sunday. Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Stephens restated an “overweight” rating and set a $18.00 price objective on shares of Arvinas in a research report on Wednesday, June 3rd.

Insider Buying and Selling

In other news, CFO Andrew Saik sold 5,696 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total value of $46,479.36. Following the completion of the sale, the chief financial officer owned 187,432 shares in the company, valued at approximately $1,529,445.12. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Noah Berkowitz sold 11,108 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $110,413.52. Following the transaction, the insider owned 191,395 shares in the company, valued at $1,902,466.30. The trade was a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 41,728 shares of company stock worth $402,649 over the last three months. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Arvinas

A number of hedge funds have recently added to or reduced their stakes in the stock. Armistice Capital LLC increased its holdings in shares of 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 acquiring an additional 600,000 shares during the period. TCG Crossover Management LLC purchased a new stake in shares of Arvinas during the third quarter valued at about $13,780,000. Qube Research & Technologies Ltd boosted its holdings in shares of 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 shares of Arvinas by 208.4% in the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after buying an additional 885,483 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Arvinas by 469.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after buying an additional 995,125 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors.

Arvinas Stock Performance

ARVN stock opened at $8.22 on Friday. The firm has a fifty day moving average price of $8.12 and a 200 day moving average price of $10.41. Arvinas has a fifty-two week low of $6.05 and a fifty-two week high of $14.51. The firm has a market cap of $530.35 million, a PE ratio of -2.48 and a beta of 1.74.

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

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.