Arvinas (NASDAQ:ARVN) Trading Down 3.7% – Here’s What Happened

Arvinas, Inc. (NASDAQ:ARVN) shares traded down 3.7% during mid-day trading on Tuesday . The company traded as low as $22.30 and last traded at $22.34. 122,245 shares were traded during mid-day trading, a decline of 83% from the average session volume of 713,390 shares. The stock had previously closed at $23.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Oppenheimer cut their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Barclays dropped their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. HC Wainwright reiterated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research report on Thursday, October 31st. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a report on Tuesday, July 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.62.

Arvinas Stock Down 5.6 %

The company’s 50 day simple moving average is $25.74 and its 200-day simple moving average is $27.17. The firm has a market cap of $1.50 billion, a P/E ratio of -4.62 and a beta of 1.96.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to the consensus estimate of $60.56 million. Arvinas’s revenue was up 196.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.18) earnings per share. Equities research analysts predict that Arvinas, Inc. will post -3.32 EPS for the current year.

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Arvinas during the third quarter valued at approximately $39,000. Quest Partners LLC bought a new position in Arvinas in the second quarter worth approximately $42,000. Amalgamated Bank raised its stake in Arvinas by 29.6% in the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after buying an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Arvinas by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after buying an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after buying an additional 2,601 shares in the last quarter. Hedge funds and other institutional investors 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.