Arvinas (NASDAQ:ARVN) Trading Down 8.6% – Here’s What Happened

Arvinas, Inc. (NASDAQ:ARVN)’s share price was down 8.6% on Tuesday . The stock traded as low as $17.04 and last traded at $17.34. Approximately 118,118 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 825,695 shares. The stock had previously closed at $18.97.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Oppenheimer lowered their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Guggenheim reiterated a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. HC Wainwright reissued a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research note on Wednesday, December 11th. BTIG Research initiated coverage on Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective on the stock. Finally, Barclays dropped their price objective on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.45.

Arvinas Trading Down 6.7 %

The firm has a 50 day moving average of $19.46 and a two-hundred day moving average of $23.44. The stock has a market capitalization of $1.22 billion, a PE ratio of -3.81 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. During the same quarter in the previous year, the firm earned ($2.53) EPS. Equities research analysts forecast that Arvinas, Inc. will post -3.22 EPS for the current year.

Institutional Trading of Arvinas

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after buying an additional 367,343 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in shares of Arvinas during the 3rd quarter worth $9,989,000. SG Americas Securities LLC lifted its stake in shares of Arvinas by 228.8% during the 4th quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after purchasing an additional 22,564 shares during the period. Wasatch Advisors LP lifted its stake in shares of Arvinas by 58.3% during the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after purchasing an additional 160,510 shares during the period. Finally, Barclays PLC lifted its stake in shares of Arvinas by 198.9% during the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after purchasing an additional 80,984 shares during the period. 95.19% of the stock is currently owned by hedge funds and other 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.