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

Shares of Arvinas, Inc. (NASDAQ:ARVN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $17.34 and last traded at $17.53, with a volume of 309175 shares. The stock had previously closed at $18.62.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ARVN shares. HC Wainwright reissued a “buy” rating and set a $87.00 price target on shares of Arvinas in a report on Wednesday, December 11th. Stephens started coverage on Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 target price on the stock. Oppenheimer dropped their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Guggenheim reiterated a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. Finally, BTIG Research assumed coverage on shares of Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price for the company. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.50.

Arvinas Trading Up 3.0 %

The firm’s 50-day moving average price is $22.21 and its 200-day moving average price is $24.73. The stock has a market capitalization of $1.22 billion, a PE ratio of -3.80 and a beta of 1.87.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. The company’s revenue was up 196.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.18) earnings per share. On average, equities research analysts predict that Arvinas, Inc. will post -3.22 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Several hedge funds and other institutional investors have recently bought and sold shares of ARVN. Assenagon Asset Management S.A. increased its position in Arvinas by 0.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock valued at $2,694,000 after acquiring an additional 777 shares during the last quarter. Nordea Investment Management AB raised its position in Arvinas by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 232,886 shares of the company’s stock worth $4,404,000 after purchasing an additional 9,196 shares during the period. JPMorgan Chase & Co. lifted its stake in Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after purchasing an additional 367,343 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Arvinas by 11.6% during the third quarter. Franklin Resources Inc. now owns 69,190 shares of the company’s stock valued at $1,776,000 after buying an additional 7,166 shares during the period. Finally, M&T Bank Corp grew its stake in shares of Arvinas by 53.5% during the third quarter. M&T Bank Corp now owns 27,137 shares of the company’s stock valued at $669,000 after buying an additional 9,462 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.