Citigroup Issues Pessimistic Forecast for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its target price dropped by equities research analysts at Citigroup from $28.00 to $19.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 3.94% from the company’s current price.

Several other equities research analysts have also recently weighed in on ARVN. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a research note on Tuesday, February 11th. Stephens assumed coverage on shares of Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a report on Wednesday, December 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Finally, BTIG Research initiated coverage on Arvinas in a research note on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and a consensus price target of $56.58.

Arvinas Price Performance

NASDAQ:ARVN traded up $0.22 during trading hours on Friday, hitting $18.28. The company had a trading volume of 1,922,920 shares, compared to its average volume of 1,073,999. Arvinas has a 52 week low of $15.53 and a 52 week high of $49.76. The company has a market capitalization of $1.26 billion, a PE ratio of -6.60 and a beta of 1.95. The stock has a 50-day moving average price of $18.23 and a 200 day moving average price of $22.47.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (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 company earned ($2.53) earnings per share. Analysts anticipate that Arvinas will post -3.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arvinas news, insider Ian Taylor sold 9,020 shares of the business’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 sale, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. The trade was a 5.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,572 shares of company stock valued at $695,030. 5.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Arvinas

Institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. bought a new stake in Arvinas during the fourth quarter valued at about $42,332,000. Norges Bank bought a new position in Arvinas during the fourth quarter valued at $23,845,000. Boxer Capital Management LLC purchased a new stake in shares of Arvinas in the fourth quarter worth approximately $20,294,000. Braidwell LP boosted its stake in shares of Arvinas by 148.3% during the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after purchasing an additional 767,242 shares during the period. Finally, RTW Investments LP lifted its holdings in Arvinas by 19.8% during the 4th quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock valued at $63,919,000 after buying an additional 551,979 shares in the last quarter. 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.