Arvinas (NASDAQ:ARVN) Cut to “Neutral” at Wedbush

Wedbush lowered shares of Arvinas (NASDAQ:ARVN) from an outperform rating to a neutral rating in a research note released on Wednesday, MarketBeat Ratings reports. Wedbush currently has $12.00 price target on the stock, down from their prior price target of $57.00.

ARVN has been the topic of several other research reports. Citigroup decreased their price target on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Oppenheimer cut Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday. BTIG Research assumed coverage on Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price for the company. BMO Capital Markets reissued an “outperform” rating and issued a $82.00 price target (down previously from $88.00) on shares of Arvinas in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus cut their price objective on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.47.

Arvinas Stock Down 1.4 %

Shares of ARVN stock opened at $8.43 on Wednesday. The stock has a 50-day simple moving average of $17.56 and a 200 day simple moving average of $22.02. The stock has a market capitalization of $579.75 million, a P/E ratio of -3.04 and a beta of 1.95. Arvinas has a fifty-two week low of $7.91 and a fifty-two week high of $45.77.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter last year, the business posted ($2.53) earnings per share. On average, sell-side analysts anticipate that Arvinas will post -3.81 earnings per share for the current year.

Insider Buying and Selling at Arvinas

In related news, insider Ian Taylor sold 9,020 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the transaction, the insider now owns 159,121 shares in the company, valued at $2,658,911.91. The trade was a 5.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John G. Houston sold 31,338 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,572 shares of company stock worth $695,030. 5.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arvinas

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Arvinas by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock valued at $135,389,000 after purchasing an additional 56,561 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Arvinas by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock valued at $78,656,000 after buying an additional 249,295 shares during the period. RTW Investments LP boosted its stake in Arvinas by 19.8% in the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock valued at $63,919,000 after acquiring an additional 551,979 shares during the last quarter. FMR LLC grew its holdings in Arvinas by 7.6% during the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after acquiring an additional 204,317 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after acquiring an additional 367,343 shares during the last quarter. Institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body’s own natural protein disposal system to degrade and remove disease-causing proteins.