Truist Financial Lowers Arvinas (NASDAQ:ARVN) Price Target to $21.00

Arvinas (NASDAQ:ARVN) had its price objective decreased by Truist Financial from $65.00 to $21.00 in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research firms have also issued reports on ARVN. BMO Capital Markets set a $20.00 price target on shares of Arvinas and gave the company an “outperform” rating in a research report on Wednesday, March 12th. Wedbush cut Arvinas from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $12.00 in a research report on Wednesday, March 12th. Bank of America decreased their price objective on Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley reduced their target price on Arvinas from $48.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, The Goldman Sachs Group downgraded shares of Arvinas from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $70.00 to $15.00 in a report on Thursday, March 13th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.53.

Arvinas Stock Up 5.0 %

ARVN stock opened at $6.95 on Wednesday. The firm has a market cap of $477.97 million, a PE ratio of -2.51 and a beta of 2.30. The business has a 50 day moving average of $12.58 and a 200-day moving average of $19.18. Arvinas has a 12-month low of $5.94 and a 12-month high of $38.56.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company posted ($2.53) earnings per share. On average, research analysts expect that Arvinas will post -3.81 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO John G. Houston sold 31,338 shares of Arvinas 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 transaction, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the transaction, the insider now owns 110,023 shares in the company, valued at $945,097.57. The trade was a 7.30 % decrease in their position. 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.

Institutional Investors Weigh In On Arvinas

Several institutional investors and hedge funds have recently bought and sold shares of ARVN. T. Rowe Price Investment Management Inc. purchased a new position in shares of Arvinas during the fourth quarter valued at about $42,332,000. Norges Bank bought a new stake in shares of Arvinas during the fourth quarter valued at approximately $23,845,000. Boxer Capital Management LLC bought a new stake in shares of Arvinas in the 4th quarter worth $20,294,000. RTW Investments LP lifted its holdings in shares of Arvinas by 19.8% during the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock valued at $63,919,000 after purchasing an additional 551,979 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its position in shares of Arvinas by 42.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,776,555 shares of the company’s stock valued at $34,057,000 after buying an additional 532,105 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

About Arvinas

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.