Arvinas (NASDAQ:ARVN) Given New $28.00 Price Target at Bank of America

Arvinas (NASDAQ:ARVN) had its target price dropped by stock analysts at Bank of America from $54.00 to $28.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 237.35% from the company’s previous close.

ARVN has been the subject of a number of other reports. Stephens assumed coverage on shares of Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $81.00 price objective on shares of Arvinas in a research report on Tuesday. Wedbush lowered Arvinas from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $12.00 in a research report on Wednesday. Oppenheimer cut Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Guggenheim restated a “buy” rating and set a $57.00 target price on shares of Arvinas in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.46.

Arvinas Trading Down 52.7 %

NASDAQ:ARVN opened at $8.30 on Wednesday. Arvinas has a 1 year low of $7.91 and a 1 year high of $46.62. The stock has a 50-day moving average price of $18.19 and a two-hundred day moving average price of $22.33. The stock has a market cap of $570.81 million, a price-to-earnings ratio of -3.00 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm posted ($2.53) earnings per share. Sell-side analysts forecast that Arvinas will post -3.81 earnings per share for the current year.

Insider Activity

In other news, insider Ian Taylor sold 9,020 shares of the 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 transaction, the insider now directly owns 159,121 shares of the company’s stock, valued at $2,658,911.91. This represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,572 shares of company stock valued at $695,030 over the last three months. Insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Intech Investment Management LLC acquired a new position in Arvinas in the 3rd quarter valued at $350,000. Algert Global LLC boosted its position in shares of Arvinas by 278.1% in the third quarter. Algert Global LLC now owns 168,061 shares of the company’s stock valued at $4,139,000 after acquiring an additional 123,613 shares during the period. FMR LLC boosted its position in shares of Arvinas by 7.6% in the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after acquiring an additional 204,317 shares during the period. Quantbot Technologies LP grew its stake in shares of Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after acquiring an additional 2,601 shares in the last quarter. Finally, PEAK6 Investments LLC increased its position in Arvinas by 42.9% during the third quarter. PEAK6 Investments LLC now owns 15,000 shares of the company’s stock worth $369,000 after acquiring an additional 4,500 shares during the period. 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.