Arvinas (NASDAQ:ARVN) Sets New 12-Month Low – What’s Next?

Arvinas, Inc. (NASDAQ:ARVN) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $18.49 and last traded at $18.53, with a volume of 486830 shares trading hands. The stock had previously closed at $19.10.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ARVN. Stephens initiated coverage on Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target on the stock. Guggenheim reissued a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. Oppenheimer dropped their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a report on Wednesday, December 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Arvinas Stock Down 2.6 %

The stock has a market cap of $1.28 billion, a PE ratio of -3.99 and a beta of 1.82. The stock has a 50-day moving average of $25.26 and a 200 day moving average of $25.76.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. The business’s quarterly revenue was up 196.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.18) EPS. On average, equities analysts anticipate that Arvinas, Inc. will post -3.22 EPS for the current year.

Hedge Funds Weigh In On Arvinas

A number of large investors have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Arvinas by 7.6% in the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after acquiring an additional 204,317 shares during the last quarter. Braidwell LP increased its position in Arvinas by 148.3% during the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after purchasing an additional 767,242 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its stake in Arvinas by 1.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock worth $30,651,000 after purchasing an additional 17,723 shares during the period. Candriam S.C.A. boosted its holdings in Arvinas by 32.0% in the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after purchasing an additional 147,904 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Arvinas by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 463,935 shares of the company’s stock valued at $12,347,000 after buying an additional 29,635 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

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.