Arvinas (NASDAQ:ARVN) Hits New 52-Week Low – Here’s Why

Arvinas, Inc. (NASDAQ:ARVN) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $10.97 and last traded at $9.90, with a volume of 737957 shares trading hands. The stock had previously closed at $17.56.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ARVN. BTIG Research began coverage on Arvinas in a research note on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target on the stock. Stephens began coverage on Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target on the stock. Stifel Nicolaus dropped their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Oppenheimer downgraded Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Wedbush downgraded Arvinas from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $57.00 to $12.00 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.08.

Arvinas Stock Up 8.8 %

The stock has a fifty day simple moving average of $17.97 and a 200 day simple moving average of $22.20. The firm has a market capitalization of $621.01 million, a P/E ratio of -3.26 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period in the previous year, the business earned ($2.53) EPS. Research analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Transactions at Arvinas

In other news, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the sale, the insider now directly owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,572 shares of company stock valued at $695,030. 5.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Arvinas by 18.7% in the third 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 in the last quarter. Baker BROS. Advisors LP purchased a new position in Arvinas in the third quarter worth about $9,989,000. SG Americas Securities LLC grew its position in Arvinas by 228.8% in the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after acquiring an additional 22,564 shares in the last quarter. Wasatch Advisors LP grew its position in Arvinas by 58.3% in the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after acquiring an additional 160,510 shares in the last quarter. Finally, Barclays PLC grew its position in Arvinas by 198.9% in the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after acquiring an additional 80,984 shares in the last quarter. Hedge funds and other institutional investors 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.