Wall Street Zen downgraded shares of Arvinas (NASDAQ:ARVN – Free Report) from a sell rating to a strong sell rating in a report released on Saturday morning.
A number of other research firms have also issued reports on ARVN. Barclays increased their target price on shares of Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Citigroup increased their price objective on Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Zacks Research upgraded Arvinas from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Stephens reissued an “overweight” rating and set a $18.00 target price on shares of Arvinas in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.42.
Check Out Our Latest Report on ARVN
Arvinas Price Performance
Arvinas (NASDAQ:ARVN – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.05. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The company had revenue of $15.60 million for the quarter, compared to analyst estimates of $16.61 million. During the same period in the prior year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was down 91.7% compared to the same quarter last year. Equities research analysts anticipate that Arvinas will post -2.82 earnings per share for the current year.
Insider Buying and Selling at Arvinas
In other news, 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. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew Saik sold 5,696 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total value of $46,479.36. Following the sale, the chief financial officer owned 187,432 shares of the company’s stock, valued at approximately $1,529,445.12. The trade was a 2.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 41,728 shares of company stock worth $402,649 over the last ninety days. Corporate insiders own 7.30% of the company’s stock.
Institutional Trading of Arvinas
Several institutional investors have recently modified their holdings of ARVN. Tower Research Capital LLC TRC grew its position in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after buying an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Arvinas by 109.4% in the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after acquiring an additional 3,500 shares in the last quarter. Jain Global LLC acquired a new position in Arvinas in the third quarter valued at $95,000. Oxford Asset Management LLP grew its holdings in shares of Arvinas by 15.5% during the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock worth $123,000 after purchasing an additional 2,242 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Arvinas during the third quarter worth about $124,000. 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 (PROTACĀ®) 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.
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