Arvinas (NASDAQ:ARVN) Rating Lowered to Hold at Zacks Research

Arvinas (NASDAQ:ARVN) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks reports.

ARVN has been the topic of a number of other reports. Citigroup cut their price target on shares of Arvinas from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Weiss Ratings raised shares of Arvinas from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, August 13th. 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. Stephens reissued an “overweight” rating and set a $18.00 price target on shares of Arvinas in a research report on Wednesday, June 3rd. Finally, Evercore set a $14.00 price target on shares of Arvinas in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Arvinas has an average rating of “Hold” and a consensus price target of $14.17.

Arvinas Trading Up 0.9%

NASDAQ ARVN opened at $9.39 on Thursday. The stock has a 50-day simple moving average of $8.68 and a 200 day simple moving average of $9.72. The company has a market capitalization of $605.85 million, a PE ratio of 93.91 and a beta of 1.75. Arvinas has a 12 month low of $6.97 and a 12 month high of $14.51.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $2.95. The firm had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $60.71 million. Arvinas had a return on equity of 1.91% and a net margin of 2.94%.The company’s revenue was up 1014.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.84) earnings per share. As a group, sell-side analysts predict that Arvinas will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Andrew Saik sold 5,696 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total transaction of $46,479.36. Following the completion of the transaction, the chief financial officer directly owned 187,432 shares in the company, valued at approximately $1,529,445.12. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP grew its position in Arvinas by 15.9% in the second quarter. Corient Private Wealth LP now owns 11,945 shares of the company’s stock valued at $99,000 after purchasing an additional 1,637 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Arvinas during the 2nd quarter worth about $310,000. California State Teachers Retirement System lifted its position in Arvinas by 956.3% during the 2nd quarter. California State Teachers Retirement System now owns 457,823 shares of the company’s stock worth $3,805,000 after buying an additional 414,482 shares in the last quarter. Pale Fire Capital SE acquired a new position in shares of Arvinas during the 2nd quarter worth about $99,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Arvinas by 17.5% during the 2nd quarter. Hsbc Holdings PLC now owns 104,772 shares of the company’s stock worth $885,000 after buying an additional 15,625 shares during the last quarter. Institutional investors and hedge funds 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.