Arvinas (NASDAQ:ARVN) Shares Down 5.1% – Time to Sell?

Arvinas, Inc. (NASDAQ:ARVN) was down 5.1% during mid-day trading on Thursday . The company traded as low as $10.76 and last traded at $10.7480. Approximately 805,560 shares changed hands during trading, a decline of 6% from the average daily volume of 855,652 shares. The stock had previously closed at $11.33.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ARVN shares. BTIG Research upped their price objective on Arvinas from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arvinas in a research note on Monday, December 22nd. Piper Sandler restated an “overweight” rating and issued a $20.00 target price (up from $16.00) on shares of Arvinas in a research report on Wednesday, February 25th. Barclays increased their price target on Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Finally, Citigroup raised their price objective on Arvinas from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Arvinas has an average rating of “Hold” and an average target price of $13.88.

Arvinas Trading Down 6.8%

The stock has a market cap of $675.11 million, a price-to-earnings ratio of -8.26 and a beta of 1.87. The company’s fifty day moving average is $12.43 and its two-hundred day moving average is $11.33.

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

Insider Activity

In other news, Director John G. Houston sold 35,297 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $13.21, for a total value of $466,273.37. Following the completion of the transaction, the director owned 1,122,183 shares of the company’s stock, valued at approximately $14,824,037.43. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Noah Berkowitz sold 6,435 shares of Arvinas stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $11.10, for a total transaction of $71,428.50. Following the completion of the transaction, the insider owned 202,503 shares of the company’s stock, valued at $2,247,783.30. This trade represents a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 63,864 shares of company stock worth $802,443 in the last quarter. Insiders own 4.73% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARVN. Tower Research Capital LLC TRC increased its position in shares of 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 grew its stake in Arvinas by 109.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after purchasing an additional 3,500 shares in the last quarter. State of Wyoming acquired a new position in Arvinas during the 3rd quarter worth $68,000. Aster Capital Management DIFC Ltd purchased a new stake in Arvinas during the 3rd quarter worth about $92,000. Finally, Jain Global LLC purchased a new stake in Arvinas during the 3rd quarter worth about $95,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

About Arvinas

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.