Arvinas (NASDAQ:ARVN) Releases Earnings Results

Arvinas (NASDAQ:ARVN) announced its quarterly earnings data on Monday. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.05, FiscalAI reports. Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The company had revenue of $15.60 million for the quarter, compared to the consensus estimate of $16.61 million.

Arvinas Trading Down 4.5%

Shares of NASDAQ ARVN traded down $0.45 during mid-day trading on Monday, reaching $9.66. The company had a trading volume of 1,173,123 shares, compared to its average volume of 843,986. The firm has a 50 day simple moving average of $11.43 and a two-hundred day simple moving average of $11.68. The stock has a market cap of $623.23 million, a P/E ratio of -7.55 and a beta of 1.79. Arvinas has a 52-week low of $5.90 and a 52-week high of $14.51.

Insider Transactions at Arvinas

In related news, CFO Andrew Saik sold 5,134 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 159,267 shares of the company’s stock, valued at $1,893,684.63. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Briggs Morrison purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average price of $13.40 per share, with a total value of $268,000.00. Following the purchase, the director owned 96,021 shares in the company, valued at $1,286,681.40. This trade represents a 26.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 63,864 shares of company stock worth $802,443. Insiders own 4.73% of the company’s stock.

Institutional Trading of Arvinas

A number of large investors have recently bought and sold shares of ARVN. TCG Crossover Management LLC acquired a new stake in Arvinas during the 3rd quarter worth $13,780,000. Balyasny Asset Management L.P. boosted its stake in Arvinas by 469.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after purchasing an additional 995,125 shares during the period. Qube Research & Technologies Ltd boosted its stake in Arvinas by 154.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after purchasing an additional 903,337 shares during the period. Millennium Management LLC boosted its stake in 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 purchasing an additional 885,483 shares during the period. Finally, Armistice Capital LLC boosted its stake in 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 purchasing an additional 640,000 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Analysts Set New Price Targets

ARVN has been the topic of a number of recent analyst reports. Wedbush increased their price objective on shares of Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Citigroup increased their price objective on shares of Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 target price (up from $16.00) on shares of Arvinas in a research report on Wednesday, February 25th. Wall Street Zen downgraded shares of Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Finally, Zacks Research downgraded shares of Arvinas from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Arvinas presently has an average rating of “Hold” and a consensus price target of $14.86.

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.