Citigroup Lowers Arvinas (NASDAQ:ARVN) Price Target to $19.00

Arvinas (NASDAQ:ARVN) had its target price lowered by stock analysts at Citigroup from $28.00 to $19.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 3.94% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. Stifel Nicolaus dropped their price objective on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Barclays cut their target price on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Stephens started coverage on shares of Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target on the stock. Finally, BTIG Research assumed coverage on shares of Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.58.

Arvinas Stock Up 1.2 %

Shares of ARVN stock opened at $18.28 on Friday. The company has a 50 day moving average price of $18.22 and a 200-day moving average price of $22.40. Arvinas has a 52 week low of $15.53 and a 52 week high of $49.76. The firm has a market capitalization of $1.26 billion, a PE ratio of -6.60 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period in the prior year, the firm posted ($2.53) earnings per share. Analysts anticipate that Arvinas will post -3.81 earnings per share for the current year.

Insider Buying and Selling at Arvinas

In related news, insider Ian Taylor sold 9,020 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the transaction, the insider now owns 159,121 shares in the company, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.72, for a total transaction of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,572 shares of company stock valued at $695,030 over the last ninety days. 5.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in shares of Arvinas in the fourth quarter worth about $28,000. KBC Group NV increased its stake in Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after acquiring an additional 1,255 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of Arvinas by 147.3% during the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after acquiring an additional 2,601 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Arvinas during the 4th quarter valued at approximately $171,000. Finally, Tema Etfs LLC bought a new position in shares of Arvinas during the 4th quarter valued at approximately $227,000. Hedge funds and other 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.