Arvinas (NASDAQ:ARVN) Cut to “Neutral” at Wedbush

Arvinas (NASDAQ:ARVN) was downgraded by equities research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. They currently have a $12.00 price objective on the stock, down from their prior price objective of $57.00. Wedbush’s price target would indicate a potential upside of 44.58% from the stock’s previous close.

ARVN has been the subject of a number of other research reports. Citigroup cut their price objective on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, March 7th. BTIG Research started coverage on shares of Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target for the company. BMO Capital Markets restated an “outperform” rating and set a $82.00 price target (down previously from $88.00) on shares of Arvinas in a report on Wednesday, February 12th. Stephens started coverage on shares of Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target for the company. Finally, Guggenheim restated a “buy” rating and set a $57.00 price target on shares of Arvinas in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Arvinas has a consensus rating of “Moderate Buy” and an average price target of $52.33.

Arvinas Stock Down 52.7 %

ARVN opened at $8.30 on Wednesday. Arvinas has a twelve month low of $7.91 and a twelve month high of $46.62. The company has a 50-day moving average price of $18.19 and a 200 day moving average price of $22.33. The company 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 quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share 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 prior year, the firm posted ($2.53) earnings per share. As a group, sell-side analysts expect 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 Arvinas 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 sale, the insider now directly owns 159,121 shares in the company, valued at $2,658,911.91. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,572 shares of company stock valued at $695,030 in the last 90 days. Company insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new stake in Arvinas during the 4th quarter worth $28,000. KBC Group NV raised its stake in Arvinas by 77.0% during 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 in the last quarter. Quantbot Technologies LP raised its stake in 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 acquired a new stake in Arvinas during the 4th quarter worth $171,000. Finally, Tema Etfs LLC acquired a new stake in Arvinas during the 4th quarter worth $227,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.