UBS Group Cuts Arvinas (NASDAQ:ARVN) Price Target to $21.00

Arvinas (NASDAQ:ARVN) had its target price decreased by UBS Group from $74.00 to $21.00 in a research report released on Thursday,Benzinga reports. UBS Group currently has a buy rating on the stock.

ARVN has been the topic of several other reports. Jefferies Financial Group restated a “hold” rating and issued a $10.00 price objective (down from $52.00) on shares of Arvinas in a report on Friday, May 2nd. Guggenheim cut their target price on Arvinas from $32.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Barclays lowered their price target on Arvinas from $32.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Citigroup dropped their price objective on Arvinas from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Monday, May 5th. Finally, Wedbush lowered Arvinas from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $57.00 to $12.00 in a research note on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arvinas has an average rating of “Moderate Buy” and a consensus price target of $20.92.

Arvinas Price Performance

NASDAQ:ARVN opened at $6.26 on Thursday. The company’s 50-day moving average is $7.73 and its two-hundred day moving average is $16.26. Arvinas has a 1-year low of $5.90 and a 1-year high of $37.38. The firm has a market capitalization of $456.92 million, a price-to-earnings ratio of -2.26 and a beta of 2.21.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. The firm’s revenue for the quarter was up 646.2% on a year-over-year basis. During the same period last year, the business earned ($0.97) earnings per share. As a group, equities analysts anticipate that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the transaction, the insider now owns 110,023 shares in the company, valued at approximately $945,097.57. The trade was a 7.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were 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 owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,230 shares of company stock worth $769,402. 4.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arvinas

Several institutional investors have recently added to or reduced their stakes in ARVN. GF Fund Management CO. LTD. purchased a new position in Arvinas in the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Arvinas by 965.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company’s stock valued at $33,000 after buying an additional 4,219 shares in the last quarter. CWM LLC grew its position in shares of Arvinas by 2,317.5% in the 1st quarter. CWM LLC now owns 7,615 shares of the company’s stock valued at $53,000 after buying an additional 7,300 shares during the last quarter. KBC Group NV grew its position in shares of Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after buying an additional 1,255 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Arvinas during the 1st quarter worth $77,000. 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.