Arvinas (NASDAQ:ARVN) Reaches New 12-Month Low – What’s Next?

Arvinas, Inc. (NASDAQ:ARVN)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $18.49 and last traded at $18.53, with a volume of 486830 shares traded. The stock had previously closed at $19.10.

Wall Street Analyst Weigh In

ARVN has been the subject of several recent research reports. Stephens began coverage on shares of Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price for the company. BMO Capital Markets dropped their price objective on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Oppenheimer cut their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and set a $87.00 target price on shares of Arvinas in a report on Wednesday, December 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.50.

Arvinas Price Performance

The company’s 50-day moving average is $24.99 and its 200-day moving average is $25.66. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -3.96 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. The firm’s revenue for the quarter was up 196.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.18) EPS. Sell-side analysts anticipate that Arvinas, Inc. will post -3.22 earnings per share for the current year.

Institutional Investors Weigh In On Arvinas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of Arvinas by 11.6% in the third quarter. Franklin Resources Inc. now owns 69,190 shares of the company’s stock worth $1,776,000 after acquiring an additional 7,166 shares in the last quarter. M&T Bank Corp increased its holdings in Arvinas by 53.5% in the 3rd quarter. M&T Bank Corp now owns 27,137 shares of the company’s stock valued at $669,000 after purchasing an additional 9,462 shares in the last quarter. Barclays PLC raised its position in Arvinas by 198.9% in the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after purchasing an additional 80,984 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Arvinas by 36.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock worth $2,238,000 after purchasing an additional 24,223 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Arvinas in the third quarter worth about $453,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Company Profile

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.