Arvinas (NASDAQ:ARVN) Sets New 12-Month Low – Should You Sell?

Shares of Arvinas, Inc. (NASDAQ:ARVN) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $17.34 and last traded at $17.53, with a volume of 309175 shares trading hands. The stock had previously closed at $18.62.

Analysts Set New Price Targets

ARVN has been the topic of several analyst reports. BMO Capital Markets dropped their target price on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. BTIG Research started coverage on shares of Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective on the stock. Guggenheim restated a “buy” rating on shares of Arvinas in a research note on Thursday, December 12th. Stephens initiated coverage on shares of Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 price target on the stock. Finally, Oppenheimer lowered their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Arvinas currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Arvinas Trading Down 4.0 %

The company has a market cap of $1.23 billion, a price-to-earnings ratio of -3.83 and a beta of 1.87. The business has a 50-day moving average price of $22.57 and a 200 day moving average price of $24.86.

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

Institutional Investors Weigh In On Arvinas

Several large investors have recently made changes to their positions in ARVN. Braidwell LP grew its position in Arvinas by 148.3% in the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after acquiring an additional 767,242 shares in the last quarter. Baker BROS. Advisors LP bought a new position in shares of Arvinas in the third quarter worth about $9,989,000. JPMorgan Chase & Co. grew its holdings in Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares during the last quarter. FMR LLC lifted its holdings in shares of Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after buying an additional 204,317 shares during the last quarter. Finally, Wasatch Advisors LP increased its position in Arvinas by 58.3% during the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after acquiring an additional 160,510 shares during the period. Institutional investors 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.