Arvinas (NASDAQ:ARVN) Stock Rating Cut to “Hold” at Zacks Research

Zacks Research cut shares of Arvinas (NASDAQ:ARVN) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks reports.

A number of other analysts have also commented on the stock. BTIG Research reaffirmed a “buy” rating and set a $18.00 target price on shares of Arvinas in a report on Tuesday, August 4th. HC Wainwright started coverage on Arvinas in a research note on Tuesday, November 3rd. They issued a “buy” rating and a $13.00 target price on the stock. Wall Street Zen upgraded Arvinas from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Citigroup decreased their target price on Arvinas from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, Evercore set a $14.00 price target on Arvinas in a research note on Monday, August 10th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and a consensus target price of $15.18.

Arvinas Stock Up 2.4%

Shares of ARVN opened at $6.92 on Monday. Arvinas has a 12-month low of $6.33 and a 12-month high of $14.51. The firm has a market capitalization of $453.16 million, a PE ratio of -28.83 and a beta of 1.81. The stock’s fifty day simple moving average is $7.77 and its 200-day simple moving average is $9.52.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, November 3rd. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.10. Arvinas had a negative net margin of 3.45% and a negative return on equity of 2.00%. The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $12.39 million. During the same period in the prior year, the company posted ($0.48) EPS. The company’s revenue was down 98.8% compared to the same quarter last year. Analysts anticipate that Arvinas will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARVN. BlackRock Inc. acquired a new position in Arvinas in the second quarter valued at about $63,232,000. Dimensional Fund Advisors LP raised its position in shares of Arvinas by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 485,764 shares of the company’s stock worth $5,147,000 after purchasing an additional 13,344 shares during the period. Algert Global LLC lifted its holdings in shares of Arvinas by 137.6% during the 2nd quarter. Algert Global LLC now owns 426,415 shares of the company’s stock valued at $3,544,000 after purchasing an additional 246,919 shares in the last quarter. Nantahala Capital Management LLC bought a new position in shares of Arvinas during the 2nd quarter valued at about $2,493,000. Finally, Brummer Multi Strategy AB lifted its holdings in shares of Arvinas by 71.4% during the 1st quarter. Brummer Multi Strategy AB now owns 285,076 shares of the company’s stock valued at $3,022,000 after purchasing an additional 118,734 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors.

About Arvinas

Arvinas, Inc. is a biotechnology company based in New Haven, Connecticut, that develops medicines using targeted protein degradation. Founded in 2013, the company applies its PROTAC technology to direct disease-related proteins for removal by the body’s natural protein-disposal system. Its research focuses primarily on cancer, including investigational therapies designed to target estrogen and androgen receptors. The company’s programs include vepdegestrant, an estrogen receptor degrader being developed with Pfizer for certain forms of breast cancer, as well as androgen receptor degraders being studied for prostate cancer.