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

Arvinas, Inc. (NASDAQ:ARVN) traded down 3.7% during mid-day trading on Tuesday . The stock traded as low as $22.30 and last traded at $22.34. 122,245 shares traded hands 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 Analyst Weigh In

Several equities analysts have issued reports on the stock. Oppenheimer cut their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Thursday, October 31st. Wedbush reissued an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. Barclays reduced their price target on Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Stephens started coverage on Arvinas in a research report on Monday. They issued an “overweight” rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.62.

Arvinas Stock Down 5.6 %

The stock has a 50-day simple moving average of $25.74 and a 200 day simple moving average of $27.17. The company has a market cap of $1.50 billion, a PE ratio of -4.62 and a beta of 1.96.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. During the same period in the previous year, the company earned ($1.18) EPS. The company’s quarterly revenue was up 196.0% compared to the same quarter last year. As a group, research analysts anticipate that Arvinas, Inc. will post -3.32 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Arvinas by 29.9% in the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after buying an additional 1,448,166 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Arvinas by 14.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock worth $180,329,000 after buying an additional 536,295 shares in the last quarter. FMR LLC grew its stake in shares of Arvinas by 7.6% in the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after acquiring an additional 204,317 shares in the last quarter. Braidwell LP grew its stake in shares of Arvinas by 148.3% in the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after acquiring an additional 767,242 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in shares of Arvinas by 1.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock valued at $30,651,000 after acquiring an additional 17,723 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.