Arvinas (NASDAQ:ARVN) Given New $21.00 Price Target at Truist Financial

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

ARVN has been the topic of several other research reports. BMO Capital Markets set a $20.00 price objective on shares of Arvinas and gave the company an “outperform” rating in a research report on Wednesday, March 12th. Wells Fargo & Company set a $26.00 price objective on shares of Arvinas and gave the company an “overweight” rating in a research note on Wednesday, March 12th. Bank of America lowered their target price on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Barclays reduced their price target on Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group lowered Arvinas from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $70.00 to $15.00 in a report on Thursday, March 13th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.53.

Arvinas Trading Down 5.8 %

NASDAQ:ARVN traded down $0.39 during trading hours on Wednesday, hitting $6.34. 675,438 shares of the stock traded hands, compared to its average volume of 1,070,227. The firm has a market cap of $436.01 million, a price-to-earnings ratio of -2.26 and a beta of 2.30. Arvinas has a fifty-two week low of $5.94 and a fifty-two week high of $39.34. The firm has a 50 day moving average price of $13.01 and a 200 day moving average price of $19.42.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results 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 net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the business earned ($2.53) earnings per share. Research analysts predict that Arvinas will post -3.81 EPS for the current year.

Insider Activity

In related news, insider Noah Berkowitz sold 8,658 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the transaction, the insider now owns 110,023 shares in the company, valued at approximately $945,097.57. This represents a 7.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John G. Houston sold 31,338 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,230 shares of company stock worth $769,402 over the last ninety days. Insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Large investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Arvinas during the 4th quarter worth $28,000. KBC Group NV boosted its stake in shares of 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 purchasing an additional 1,255 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Arvinas during the fourth quarter valued at $171,000. Tema Etfs LLC bought a new stake in shares of Arvinas during the 4th quarter valued at about $227,000. Finally, Teacher Retirement System of Texas grew its position in shares of Arvinas by 19.0% during the 4th quarter. Teacher Retirement System of Texas now owns 14,295 shares of the company’s stock worth $274,000 after buying an additional 2,280 shares during the period. Institutional investors and hedge funds 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.