Arvinas (NASDAQ:ARVN) Reaches New 52-Week Low – Here’s What Happened

Arvinas, Inc. (NASDAQ:ARVN)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $7.83 and last traded at $7.85, with a volume of 677217 shares trading hands. The stock had previously closed at $7.95.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $81.00 target price on shares of Arvinas in a research note on Tuesday, March 11th. BTIG Research assumed coverage on Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective for the company. Barclays lowered their target price on Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company set a $26.00 price target on Arvinas and gave the company an “overweight” rating in a research note on Wednesday, March 12th. Finally, Morgan Stanley lowered their price objective 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. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Arvinas Trading Down 5.6 %

The firm’s 50-day moving average price is $15.27 and its 200 day moving average price is $20.70. The company has a market capitalization of $521.98 million, a price-to-earnings ratio of -2.74 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) EPS 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 in the prior year, the company earned ($2.53) earnings per share. As a group, equities research analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ian Taylor sold 9,020 shares of the company’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 transaction of $150,724.20. Following the completion of the transaction, the insider now directly owns 159,121 shares in the company, valued at $2,658,911.91. This represents a 5.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Noah Berkowitz sold 8,658 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 110,023 shares in the company, valued at $945,097.57. This represents a 7.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,230 shares of company stock worth $769,402 in the last ninety days. 5.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after acquiring an additional 367,343 shares during the last quarter. Baker BROS. Advisors LP bought a new stake in shares of Arvinas during the third quarter worth about $9,989,000. SG Americas Securities LLC increased its stake in shares of Arvinas by 228.8% in the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock valued at $622,000 after buying an additional 22,564 shares during the period. Wasatch Advisors LP raised its holdings in Arvinas by 58.3% in the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after buying an additional 160,510 shares during the last quarter. Finally, Barclays PLC boosted its position in Arvinas by 198.9% during the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after buying an additional 80,984 shares during the period. 95.19% of the stock is currently owned by institutional investors.

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.