Oppenheimer Downgrades Arvinas (NASDAQ:ARVN) to Market Perform

Arvinas (NASDAQ:ARVN) was downgraded by stock analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday,Briefing.com Automated Import reports.

ARVN has been the topic of a number of other research reports. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research note on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research report on Wednesday, December 11th. BTIG Research initiated coverage on shares of Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target for the company. Barclays lowered their price objective on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $82.00 target price (down from $88.00) on shares of Arvinas in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.58.

Arvinas Trading Down 52.4 %

ARVN traded down $9.20 on Tuesday, reaching $8.36. The company had a trading volume of 7,894,065 shares, compared to its average volume of 1,189,344. The company has a market capitalization of $574.73 million, a P/E ratio of -2.98 and a beta of 1.95. The company has a fifty day moving average of $18.22 and a 200-day moving average of $22.38. Arvinas has a one year low of $7.91 and a one year high of $46.62.

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

Insider Activity

In other news, insider Ian Taylor sold 9,020 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the sale, the insider now owns 159,121 shares of the company’s stock, valued at $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John G. Houston sold 31,338 shares of the company’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 transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,572 shares of company stock worth $695,030 over the last 90 days. 5.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arvinas

Institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new stake in shares of Arvinas in the fourth quarter worth approximately $28,000. KBC Group NV increased its stake in 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 period. Quantbot Technologies LP lifted its position in Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after buying an additional 2,601 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Arvinas in the 4th quarter worth approximately $171,000. Finally, Tema Etfs LLC acquired a new stake in shares of Arvinas during the 4th quarter valued at $227,000. 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.