Arvinas, Inc. (NASDAQ:ARVN) Receives $15.42 Consensus PT from Brokerages

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $15.4167.

A number of equities research analysts recently weighed in on ARVN shares. Barclays raised their price target on shares of Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Weiss Ratings downgraded Arvinas from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 25th. Truist Financial set a $10.00 target price on Arvinas in a research report on Wednesday, March 18th. Zacks Research upgraded Arvinas from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Citigroup increased their price target on Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday, May 4th.

Arvinas Price Performance

NASDAQ ARVN traded up $0.13 on Tuesday, reaching $8.58. The company had a trading volume of 449,719 shares, compared to its average volume of 850,152. The firm has a market capitalization of $553.58 million, a PE ratio of -2.58 and a beta of 1.74. Arvinas has a 1 year low of $6.05 and a 1 year high of $14.51. The firm has a 50-day moving average of $8.64 and a 200-day moving average of $10.85.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data 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 analyst estimates of $16.61 million. During the same quarter last 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 expect that Arvinas will post -2.82 EPS for the current fiscal year.

Insider Buying and Selling at Arvinas

In other news, CEO Randy Teel sold 9,657 shares of the 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 completion of the transaction, the chief executive officer directly owned 287,218 shares in the company, valued at approximately $2,854,946.92. This represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew Saik sold 11,139 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 $110,721.66. Following the sale, the chief financial officer directly owned 193,128 shares of the company’s stock, valued at $1,919,692.32. The trade was a 5.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 41,728 shares of company stock valued at $402,649 in the last three months. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds and other institutional investors have recently modified their holdings of ARVN. Tower Research Capital LLC TRC grew its stake in Arvinas by 491.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after purchasing an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after acquiring an additional 3,500 shares during the last quarter. Abel Hall LLC acquired a new stake in shares of Arvinas during the 4th quarter valued at approximately $125,000. Corient Private Wealth LLC acquired a new stake in shares of Arvinas during the 4th quarter valued at approximately $127,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Arvinas during the third quarter worth $92,000. 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.