Arvinas (NASDAQ:ARVN) Downgraded by Wedbush to Neutral

Wedbush lowered shares of Arvinas (NASDAQ:ARVN) from an outperform rating to a neutral rating in a research note published on Wednesday, MarketBeat Ratings reports. The brokerage currently has $12.00 price target on the stock, down from their prior price target of $57.00.

A number of other brokerages have also commented on ARVN. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $82.00 price target (down from $88.00) on shares of Arvinas in a research note on Wednesday, February 12th. Stephens began coverage on shares of Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target for the company. Stifel Nicolaus reduced their price target on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Oppenheimer lowered shares of Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.08.

Arvinas Stock Performance

Shares of ARVN stock opened at $9.03 on Wednesday. Arvinas has a one year low of $7.91 and a one year high of $46.51. The company’s 50-day moving average is $17.97 and its 200 day moving average is $22.20. The company has a market capitalization of $621.01 million, a price-to-earnings ratio of -3.26 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last announced its quarterly 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 quarter in the prior year, the firm posted ($2.53) EPS. As a group, research analysts predict that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Arvinas

In other Arvinas news, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction that occurred 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 transaction, the insider now owns 159,121 shares of the company’s stock, valued at $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Monday, February 24th. The shares were sold at an average price of $16.72, for a total transaction of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,572 shares of company stock valued at $695,030 over the last 90 days. 5.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arvinas

Several large investors have recently added to or reduced their stakes in ARVN. GF Fund Management CO. LTD. purchased a new position in Arvinas during the fourth quarter valued at approximately $28,000. KBC Group NV lifted its holdings in shares of Arvinas by 77.0% in the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after buying an additional 1,255 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of 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. KLP Kapitalforvaltning AS purchased a new position in shares of Arvinas in the fourth quarter worth $171,000. Finally, Tema Etfs LLC purchased a new position in shares of Arvinas in the fourth quarter worth $227,000. 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.