Arvinas (NASDAQ:ARVN) Upgraded to Hold at Zacks Research

Arvinas (NASDAQ:ARVN) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler reissued an “overweight” rating and issued a $20.00 price objective (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Wall Street Zen cut Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Wedbush lifted their target price on Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Weiss Ratings cut Arvinas from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 19th. Finally, Truist Financial set a $10.00 target price on Arvinas in a research report on Wednesday, March 18th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Arvinas has an average rating of “Hold” and a consensus target price of $14.69.

Arvinas Stock Performance

Shares of Arvinas stock opened at $8.85 on Tuesday. Arvinas has a 52 week low of $6.05 and a 52 week high of $14.51. The stock has a 50 day moving average price of $10.30 and a two-hundred day moving average price of $11.64. The stock has a market capitalization of $571.00 million, a PE ratio of -2.67 and a beta of 1.79.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.05. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The firm had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $16.61 million. During the same quarter last year, the firm posted $1.14 earnings per share. The company’s revenue for the quarter was down 91.7% compared to the same quarter last year. Research analysts forecast that Arvinas will post -2.85 EPS for the current year.

Insider Activity at Arvinas

In other Arvinas news, Director Briggs Morrison purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average cost of $13.40 per share, for a total transaction of $268,000.00. Following the completion of the acquisition, the director owned 96,021 shares of the company’s stock, valued at $1,286,681.40. The trade was a 26.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Noah Berkowitz sold 11,108 shares of Arvinas stock in a transaction on Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $110,413.52. Following the sale, the insider owned 191,395 shares in the company, valued at $1,902,466.30. This trade represents a 5.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 77,764 shares of company stock valued at $893,872 over the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of Arvinas

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in Arvinas by 491.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after acquiring an additional 4,835 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after acquiring an additional 3,500 shares during the period. State of Wyoming bought a new stake in Arvinas during the third quarter worth $68,000. Aster Capital Management DIFC Ltd bought a new stake in Arvinas during the third quarter worth $92,000. Finally, Jain Global LLC bought a new stake in Arvinas during the third quarter worth $95,000. 95.19% of the stock is currently owned by institutional investors.

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.