Arvinas (NASDAQ:ARVN) Price Target Lowered to $28.00 at Bank of America

Arvinas (NASDAQ:ARVN) had its target price reduced by Bank of America from $54.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the company. Oppenheimer cut Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday. Stephens assumed coverage on Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. HC Wainwright restated a “buy” rating and set a $81.00 price objective on shares of Arvinas in a research note on Tuesday. Finally, BTIG Research assumed coverage on Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Arvinas has a consensus rating of “Moderate Buy” and a consensus price target of $43.08.

Arvinas Trading Up 8.8 %

Shares of Arvinas stock opened at $9.03 on Wednesday. Arvinas has a twelve month low of $7.91 and a twelve month high of $46.51. The stock has a market capitalization of $621.01 million, a P/E ratio of -3.26 and a beta of 1.95. The business’s fifty day moving average price is $17.97 and its 200 day moving average price is $22.20.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period in the previous year, the company earned ($2.53) EPS. As a group, sell-side analysts predict that Arvinas will post -3.81 EPS for the current year.

Insider Transactions at Arvinas

In related news, CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ian Taylor sold 9,020 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the sale, the insider now directly owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,572 shares of company stock valued at $695,030. 5.23% of the stock is currently owned by insiders.

Institutional Trading of Arvinas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Arvinas by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock valued at $135,389,000 after buying an additional 56,561 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Arvinas by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock valued at $78,656,000 after purchasing an additional 249,295 shares during the last quarter. RTW Investments LP grew its holdings in shares of Arvinas by 19.8% during the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock valued at $63,919,000 after purchasing an additional 551,979 shares during the last quarter. FMR LLC grew its holdings in shares of Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after purchasing an additional 204,317 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after purchasing an additional 367,343 shares during the last quarter. 95.19% of the stock is owned by institutional investors.

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.