Arvinas (NASDAQ:ARVN) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Arvinas (NASDAQ:ARVN) issued its quarterly earnings results on Monday. The company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.05, FiscalAI reports. The company had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $16.61 million. Arvinas had a negative return on equity of 14.25% and a negative net margin of 30.77%.

Arvinas Stock Performance

Shares of ARVN stock traded down $0.45 during trading hours on Monday, hitting $9.66. 1,414,914 shares of the company were exchanged, compared to its average volume of 846,706. The firm has a market cap of $623.23 million, a P/E ratio of -7.55 and a beta of 1.79. Arvinas has a fifty-two week low of $5.90 and a fifty-two week high of $14.51. The company has a 50 day simple moving average of $11.43 and a two-hundred day simple moving average of $11.68.

Insider Activity at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 6,435 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $11.10, for a total value of $71,428.50. Following the completion of the sale, the insider owned 202,503 shares of the company’s stock, valued at approximately $2,247,783.30. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Randy Teel sold 4,786 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $12.16, for a total value of $58,197.76. Following the completion of the sale, the chief executive officer directly owned 149,696 shares of the company’s stock, valued at $1,820,303.36. This trade represents a 3.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 63,864 shares of company stock worth $802,443. Corporate insiders own 4.73% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently added to or reduced their stakes in the company. Sherbrooke Park Advisers LLC acquired a new stake in Arvinas in the third quarter valued at approximately $188,000. American Century Companies Inc. acquired a new stake in Arvinas in the second quarter valued at approximately $169,000. Brooklyn Investment Group acquired a new stake in Arvinas in the fourth quarter valued at approximately $157,000. AlphaCentric Advisors LLC acquired a new stake in Arvinas in the fourth quarter valued at approximately $147,000. Finally, Great Lakes Advisors LLC acquired a new stake in Arvinas in the fourth quarter valued at approximately $138,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ARVN. Citigroup increased their price target on Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arvinas in a research note on Friday, April 10th. Wedbush increased their price target on Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Truist Financial set a $10.00 price target on Arvinas in a research note on Wednesday, March 18th. Finally, BTIG Research increased their price target on Arvinas from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Arvinas has an average rating of “Hold” and a consensus price target of $14.86.

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.