Arvinas (NASDAQ:ARVN) Raised to Hold at Zacks Research

Arvinas (NASDAQ:ARVN) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Barclays increased their target price on shares of Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. BTIG Research increased their target price on shares of Arvinas from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Truist Financial set a $10.00 price objective on shares of Arvinas in a research report on Wednesday, March 18th. Finally, Citigroup raised their price objective on shares of Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Arvinas currently has a consensus rating of “Hold” and a consensus target price of $14.69.

Arvinas Stock Down 0.8%

Shares of NASDAQ ARVN opened at $8.85 on Tuesday. The firm has a 50-day simple moving average of $10.30 and a 200-day simple moving average of $11.64. The stock has a market capitalization of $571.00 million, a price-to-earnings ratio of -2.67 and a beta of 1.79. Arvinas has a 52 week low of $6.05 and a 52 week high of $14.51.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, May 12th. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.05. The business had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $16.61 million. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The company’s quarterly revenue was down 91.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. As a group, equities research analysts expect that Arvinas will post -2.85 EPS for the current year.

Insider Activity

In related news, CFO Andrew Saik sold 11,139 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $110,721.66. Following the completion of the sale, the chief financial officer directly owned 193,128 shares in the company, valued at approximately $1,919,692.32. This trade represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Randy Teel sold 9,657 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $95,990.58. Following the sale, the chief executive officer owned 287,218 shares of the company’s stock, valued at approximately $2,854,946.92. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 77,764 shares of company stock valued at $893,872 in the last quarter. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARVN. Tower Research Capital LLC TRC boosted its stake in Arvinas by 491.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after buying an additional 4,835 shares during the period. Canada Pension Plan Investment Board boosted its stake in Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after buying an additional 3,500 shares during the period. State of Wyoming purchased a new position in Arvinas during the third quarter worth about $68,000. Aster Capital Management DIFC Ltd purchased a new position in Arvinas during the third quarter worth about $92,000. Finally, Jain Global LLC purchased a new position in Arvinas during the third quarter worth about $95,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.