Arvinas (NASDAQ:ARVN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Arvinas (NASDAQ:ARVN) from a strong sell rating to a sell rating in a report issued on Sunday.

A number of other research firms also recently issued reports on ARVN. Citigroup raised their price objective on shares of Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Barclays boosted their target price on shares of Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Stephens reissued an “overweight” rating and set a $18.00 target price on shares of Arvinas in a research report on Wednesday, June 3rd. BTIG Research raised their price target on shares of Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.42.

Arvinas Trading Down 0.2%

ARVN stock opened at $8.20 on Friday. The stock’s fifty day simple moving average is $8.14 and its two-hundred day simple moving average is $10.44. Arvinas has a 1-year low of $6.05 and a 1-year high of $14.51. The stock has a market cap of $529.06 million, a P/E ratio of -2.47 and a beta of 1.74.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.95) by $0.05. The firm had revenue of $15.60 million during the quarter, compared to analyst estimates of $16.61 million. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The business’s revenue was down 91.7% compared to the same quarter last year. During the same period last year, the firm posted $1.14 EPS. As a group, analysts forecast that Arvinas will post -2.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Arvinas

In other Arvinas news, CFO Andrew Saik sold 5,696 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total transaction of $46,479.36. Following the sale, the chief financial officer directly owned 187,432 shares of the company’s stock, valued at $1,529,445.12. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Randy Teel sold 9,657 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $95,990.58. Following the transaction, the chief executive officer owned 287,218 shares of the company’s stock, valued at $2,854,946.92. This represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 41,728 shares of company stock valued at $402,649 over the last three months. 7.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in shares of Arvinas by 491.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after purchasing an additional 4,835 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after buying an additional 3,500 shares during the period. Jain Global LLC purchased a new stake in shares of Arvinas in the third quarter worth about $95,000. Oxford Asset Management LLP lifted its holdings in shares of Arvinas by 15.5% in the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock worth $123,000 after buying an additional 2,242 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Arvinas in the third quarter valued at approximately $124,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

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.