Arvinas (NASDAQ:ARVN) Shares Down 5.1% – Here’s Why

Arvinas, Inc. (NASDAQ:ARVN) dropped 5.1% on Friday . The stock traded as low as $8.51 and last traded at $8.54. Approximately 439,205 shares were traded during trading, a decline of 53% from the average daily volume of 925,893 shares. The stock had previously closed at $9.00.

Wall Street Analysts Forecast Growth

ARVN has been the topic of several recent analyst reports. Citigroup reduced their target price on Arvinas from $28.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Morgan Stanley reduced their target price on Arvinas from $48.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. HC Wainwright reiterated a “buy” rating and set a $81.00 target price on shares of Arvinas in a research report on Tuesday, March 11th. Bank of America reduced their target price on Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, Oppenheimer downgraded Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.47.

Arvinas Price Performance

The business has a 50-day simple moving average of $16.24 and a two-hundred day simple moving average of $21.26. The stock has a market cap of $601.76 million, a price-to-earnings ratio of -3.16 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter in the previous year, the firm earned ($2.53) earnings per share. As a group, equities analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Transactions at Arvinas

In related news, CEO John G. Houston sold 31,338 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ian Taylor sold 9,020 shares of the stock in a transaction 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 sale, the insider now owns 159,121 shares of the company’s stock, valued at $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,230 shares of company stock worth $769,402. Corporate insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several large investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new stake in Arvinas in the 4th quarter valued at about $28,000. KBC Group NV increased its stake in Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after buying an additional 1,255 shares during the last quarter. Quantbot Technologies LP increased its stake in Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after buying an additional 2,601 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Arvinas in the 4th quarter valued at about $171,000. Finally, Tema Etfs LLC purchased a new stake in Arvinas in the 4th quarter valued at about $227,000. 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.