Arvinas (NASDAQ:ARVN) Hits New 1-Year Low Following Analyst Downgrade

Arvinas, Inc. (NASDAQ:ARVN)’s share price hit a new 52-week low during mid-day trading on Monday after Barclays lowered their price target on the stock from $48.00 to $32.00. Barclays currently has an overweight rating on the stock. Arvinas traded as low as $16.95 and last traded at $16.72, with a volume of 38455 shares trading hands. The stock had previously closed at $17.61.

A number of other equities analysts have also recently issued reports on ARVN. Oppenheimer dropped their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. BTIG Research assumed coverage on Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 target price for the company. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. HC Wainwright reissued a “buy” rating and set a $87.00 target price on shares of Arvinas in a report on Wednesday, December 11th. Finally, BMO Capital Markets lowered their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and thirteen have given 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 $61.45.

Institutional Investors Weigh In On Arvinas

A number of large investors have recently bought and sold shares of ARVN. nVerses Capital LLC acquired a new stake in shares of Arvinas during the third quarter valued at about $39,000. KBC Group NV grew its holdings in shares of Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after acquiring an additional 1,255 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after purchasing an additional 440 shares during the last quarter. Quantbot Technologies LP raised its position in shares of Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after buying an additional 2,601 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Arvinas by 37.0% in the third quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock valued at $164,000 after acquiring an additional 1,798 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Stock Down 2.9 %

The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -3.66 and a beta of 1.87. The business’s fifty day moving average is $20.15 and its two-hundred day moving average is $23.81.

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.