Arvinas (NASDAQ:ARVN) Lowered to “Market Perform” Rating by Oppenheimer

Oppenheimer lowered shares of Arvinas (NASDAQ:ARVN) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports.

A number of other research firms have also commented on ARVN. Barclays lowered their price target on Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Wedbush reaffirmed an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research report on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research report on Wednesday, December 11th. Stephens assumed coverage on Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price for the company. Finally, Stifel Nicolaus decreased their target price on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.08.

Arvinas Trading Down 52.7 %

NASDAQ ARVN opened at $8.30 on Tuesday. Arvinas has a 1-year low of $7.91 and a 1-year high of $46.62. The stock has a 50-day moving average of $18.19 and a 200-day moving average of $22.33. The firm has a market cap of $570.81 million, a PE ratio of -3.00 and a beta of 1.95.

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

Insider Buying and Selling

In related news, CEO John G. Houston sold 31,338 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the sale, the chief executive officer now owns 1,157,480 shares in the company, valued at $19,353,065.60. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ian Taylor sold 9,020 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 41,572 shares of company stock worth $695,030 in the last 90 days. Insiders own 5.23% of the company’s stock.

Institutional Trading of Arvinas

Several institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in Arvinas by 1.6% during the 4th quarter. Invesco Ltd. now owns 37,254 shares of the company’s stock valued at $714,000 after purchasing an additional 581 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Arvinas by 0.9% in the 4th quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock worth $1,685,000 after buying an additional 754 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Arvinas by 0.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock worth $2,694,000 after buying an additional 777 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Arvinas by 2.7% in the 4th quarter. Bank of Montreal Can now owns 39,407 shares of the company’s stock worth $755,000 after buying an additional 1,044 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of 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 buying an additional 1,255 shares during the last quarter. 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.