Arvinas (NASDAQ:ARVN) Shares Down 5.1% – Here’s Why

Shares of Arvinas, Inc. (NASDAQ:ARVN) traded down 5.1% during trading on Friday . The company traded as low as $8.51 and last traded at $8.54. 439,205 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 925,893 shares. The stock had previously closed at $9.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $81.00 price target on shares of Arvinas in a research note on Tuesday, March 11th. BMO Capital Markets set a $20.00 price target on shares of Arvinas and gave the stock an “outperform” rating in a research note on Wednesday, March 12th. Wedbush cut shares of Arvinas from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $12.00 in a research note on Wednesday, March 12th. Morgan Stanley cut their price target on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, Barclays cut their price target on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arvinas presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.47.

Arvinas Stock Performance

The business’s 50 day moving average is $16.24 and its 200-day moving average is $21.26. The stock has a market cap of $601.76 million, a price-to-earnings ratio of -3.16 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm posted ($2.53) EPS. Sell-side analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling at Arvinas

In related news, insider Noah Berkowitz sold 8,658 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the completion of the transaction, the insider now directly owns 110,023 shares of the company’s stock, valued at $945,097.57. This represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now owns 1,157,480 shares of the company’s stock, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,230 shares of company stock valued at $769,402 in the last three months. 5.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arvinas

Several large investors have recently modified their holdings of ARVN. GF Fund Management CO. LTD. acquired a new stake in Arvinas in the fourth quarter valued at $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Arvinas by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 433,531 shares of the company’s stock valued at $8,311,000 after purchasing an additional 3,047 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Arvinas in the fourth quarter valued at $749,000. Woodline Partners LP grew its holdings in Arvinas by 39.2% in the fourth quarter. Woodline Partners LP now owns 692,733 shares of the company’s stock valued at $13,280,000 after purchasing an additional 194,996 shares during the last quarter. Finally, Twinbeech Capital LP acquired a new stake in Arvinas in the fourth quarter valued at $3,146,000. 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.