Arvinas (NASDAQ:ARVN) Hits New 12-Month Low – Here’s Why

Shares of Arvinas, Inc. (NASDAQ:ARVN) reached a new 52-week low on Tuesday . The company traded as low as $10.97 and last traded at $9.90, with a volume of 737957 shares. The stock had previously closed at $17.56.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup reduced their target price on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday. Stephens began coverage on Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective for the company. BTIG Research assumed coverage on Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Arvinas currently has an average rating of “Moderate Buy” and an average target price of $56.58.

Arvinas Stock Down 43.6 %

The stock has a market cap of $681.12 million, a P/E ratio of -3.82 and a beta of 1.95. The business has a 50-day simple moving average of $18.22 and a 200-day simple moving average of $22.38.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating 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 last year, the firm posted ($2.53) EPS. On average, analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arvinas news, 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 value of $523,971.36. Following the sale, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ian Taylor sold 9,020 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction of $150,724.20. Following the transaction, the insider now directly owns 159,121 shares of the company’s stock, valued at $2,658,911.91. This represents a 5.36 % decrease in their position. 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. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several large investors have recently added to or reduced their stakes in ARVN. GF Fund Management CO. LTD. bought a new stake in shares of Arvinas during the fourth quarter valued at approximately $28,000. KBC Group NV increased its holdings in Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after buying an additional 1,255 shares during the period. Quantbot Technologies LP raised its stake in shares of Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after buying an additional 2,601 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Arvinas during the 4th quarter worth about $171,000. Finally, Tema Etfs LLC acquired a new stake in shares of Arvinas during the 4th quarter valued at about $227,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

About Arvinas

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.