Wall Street Zen Downgrades Arvinas (NASDAQ:ARVN) to Sell

Arvinas (NASDAQ:ARVN) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Monday.

Several other equities analysts have also recently commented on ARVN. Piper Sandler reiterated an “overweight” rating and set a $20.00 target price (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Barclays raised their price objective on shares of Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Citigroup upgraded shares of Arvinas from a “neutral” rating to a “buy” rating and upped their target price for the company from $10.00 to $15.00 in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Finally, Wedbush lifted their price target on Arvinas from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Arvinas has a consensus rating of “Hold” and a consensus price target of $13.47.

Arvinas Price Performance

Shares of ARVN stock opened at $13.36 on Monday. The company’s fifty day moving average price is $12.52 and its two-hundred day moving average price is $10.74. The firm has a market capitalization of $854.51 million, a P/E ratio of -10.44 and a beta of 1.87. Arvinas has a 12 month low of $5.90 and a 12 month high of $18.93.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.55). The business had revenue of $9.50 million during the quarter, compared to analyst estimates of $37.26 million. Arvinas had a negative return on equity of 14.25% and a negative net margin of 30.77%.The company’s revenue was down 84.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.63) EPS. On average, sell-side analysts anticipate that Arvinas will post -3.81 EPS for the current year.

Insider Buying and Selling at Arvinas

In other Arvinas news, CEO Randy Teel sold 4,786 shares of Arvinas stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $12.16, for a total value of $58,197.76. Following the completion of the transaction, the chief executive officer directly owned 149,696 shares in the company, valued at $1,820,303.36. The trade was a 3.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Noah Berkowitz sold 5,685 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $11.89, for a total value of $67,594.65. Following the sale, the insider owned 163,938 shares in the company, valued at $1,949,222.82. The trade was a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 57,429 shares of company stock worth $731,014. Insiders own 4.73% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in shares of Arvinas by 26.9% during the fourth quarter. Invesco Ltd. now owns 302,100 shares of the company’s stock valued at $3,583,000 after acquiring an additional 64,044 shares during the period. Corient Private Wealth LLC bought a new stake in Arvinas in the 4th quarter valued at about $127,000. State of Tennessee Department of Treasury bought a new stake in Arvinas in the 4th quarter valued at about $323,000. Ikarian Capital LLC boosted its stake in Arvinas by 58.3% during the 4th quarter. Ikarian Capital LLC now owns 358,257 shares of the company’s stock valued at $4,249,000 after purchasing an additional 132,000 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in Arvinas in the 4th quarter worth about $1,079,000. 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.