Arvinas (NASDAQ:ARVN) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Arvinas (NASDAQ:ARVN) from a strong sell rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

ARVN has been the topic of several other research reports. Wall Street Zen downgraded shares of Arvinas from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 price target (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Truist Financial set a $10.00 price target on shares of Arvinas in a research note on Wednesday, March 18th. Citigroup increased their target price on shares of Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Weiss Ratings cut shares of Arvinas from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 19th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Arvinas presently has a consensus rating of “Hold” and an average target price of $14.69.

Arvinas Price Performance

ARVN stock opened at $8.85 on Tuesday. The company has a market capitalization of $571.00 million, a PE ratio of -2.67 and a beta of 1.79. Arvinas has a 12 month low of $6.05 and a 12 month high of $14.51. The firm’s 50-day moving average is $10.30 and its 200 day moving average is $11.64.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($0.95) by $0.05. The company had revenue of $15.60 million for the quarter, compared to the consensus estimate of $16.61 million. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The firm’s revenue was down 91.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. Sell-side analysts forecast that Arvinas will post -2.85 EPS for the current fiscal year.

Insider Activity at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 11,108 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $110,413.52. Following the transaction, the insider directly owned 191,395 shares in the company, valued at $1,902,466.30. This represents a 5.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Briggs Morrison bought 20,000 shares of the company’s stock in a transaction on Friday, March 6th. The shares were acquired at an average price of $13.40 per share, for a total transaction of $268,000.00. Following the completion of the acquisition, the director owned 96,021 shares in the company, valued at $1,286,681.40. This represents a 26.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 77,764 shares of company stock worth $893,872 over the last quarter. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hussman Strategic Advisors Inc. purchased a new stake in shares of Arvinas during the 4th quarter valued at $1,245,000. JPMorgan Chase & Co. lifted its holdings in shares of Arvinas by 475.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 214,779 shares of the company’s stock valued at $1,830,000 after purchasing an additional 177,460 shares during the last quarter. BML Capital Management LLC purchased a new stake in shares of Arvinas during the 3rd quarter valued at $426,000. Brummer Multi Strategy AB purchased a new stake in shares of Arvinas during the 4th quarter valued at $1,973,000. Finally, Arbiter Partners Capital Management LLC purchased a new stake in shares of Arvinas during the 3rd quarter valued at $3,858,000. 95.19% of the stock is currently owned by institutional investors.

About Arvinas

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.