Arvinas (NASDAQ:ARVN) Shares Down 4.9%

Arvinas, Inc. (NASDAQ:ARVN) shares traded down 4.9% on Tuesday . The stock traded as low as $24.70 and last traded at $24.70. 142,640 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 776,375 shares. The stock had previously closed at $25.98.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research note on Friday, May 17th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price target on shares of Arvinas in a research note on Monday, March 25th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus reduced their price target on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.13.

Arvinas Stock Performance

The company’s fifty day simple moving average is $30.17 and its 200-day simple moving average is $37.76. The company has a market capitalization of $1.71 billion, a P/E ratio of -4.20 and a beta of 1.98.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.45. The firm had revenue of $25.30 million during the quarter, compared to the consensus estimate of $32.94 million. During the same quarter in the prior year, the business posted ($1.54) earnings per share. The firm’s quarterly revenue was down 22.2% on a year-over-year basis. On average, sell-side analysts predict that Arvinas, Inc. will post -4.08 EPS for the current year.

Institutional Trading of Arvinas

A number of institutional investors have recently modified their holdings of the company. American International Group Inc. boosted its holdings in shares of Arvinas by 1.8% in the 1st quarter. American International Group Inc. now owns 24,857 shares of the company’s stock valued at $1,026,000 after buying an additional 449 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Arvinas by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock valued at $549,000 after buying an additional 486 shares in the last quarter. Sectoral Asset Management Inc. boosted its holdings in shares of Arvinas by 13.5% in the 3rd quarter. Sectoral Asset Management Inc. now owns 7,010 shares of the company’s stock valued at $138,000 after buying an additional 835 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Arvinas by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock valued at $519,000 after buying an additional 1,060 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Arvinas in the 1st quarter worth approximately $44,000. 95.19% of the stock is currently owned by institutional investors.

Arvinas Company Profile

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body's own natural protein disposal system to degrade and remove disease-causing proteins.