Arvinas (NASDAQ:ARVN) Stock Price Down 6.2% – Should You Sell?

Shares of Arvinas, Inc. (NASDAQ:ARVN) dropped 6.2% during trading on Thursday . The company traded as low as $17.37 and last traded at $17.46. Approximately 576,232 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 730,427 shares. The stock had previously closed at $18.61.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a report on Wednesday, December 11th. BMO Capital Markets decreased their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Oppenheimer lowered their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Stephens initiated coverage on Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.50.

Arvinas Price Performance

The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -3.96 and a beta of 1.82. The firm has a 50-day moving average price of $24.83 and a two-hundred day moving average price of $25.59.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARVN. nVerses Capital LLC bought a new stake in shares of Arvinas during the 3rd quarter worth approximately $39,000. Quest Partners LLC acquired a new position in Arvinas during the second quarter worth $42,000. Amalgamated Bank raised its position in Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after acquiring an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Arvinas by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after acquiring an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after acquiring an additional 2,601 shares during the period. Institutional investors own 95.19% of the company’s stock.

About Arvinas

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.