Arvinas (NASDAQ:ARVN) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Arvinas (NASDAQ:ARVN) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks reports.

A number of other research analysts have also recently issued reports on the company. Wall Street Zen raised Arvinas from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Wedbush increased their price objective on shares of Arvinas from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Stephens restated an “overweight” rating and issued a $18.00 price objective on shares of Arvinas in a research report on Wednesday, June 3rd. Evercore set a $14.00 target price on shares of Arvinas in a research report on Monday, August 10th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $11.00 price target (down from $15.00) on shares of Arvinas in a research note on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.17.

Arvinas Stock Up 0.9%

NASDAQ:ARVN opened at $9.39 on Thursday. The firm has a market cap of $605.85 million, a PE ratio of 93.91 and a beta of 1.75. Arvinas has a 12 month low of $6.97 and a 12 month high of $14.51. The company’s 50-day moving average price is $8.68 and its two-hundred day moving average price is $9.72.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $2.95. The company had revenue of $249.70 million during the quarter, compared to analysts’ expectations of $60.71 million. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. Arvinas’s quarterly revenue was up 1014.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.84) earnings per share. On average, research analysts expect that Arvinas will post 0.05 EPS for the current fiscal year.

Insider Transactions at Arvinas

In related news, CFO Andrew Saik sold 5,696 shares of Arvinas stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total value of $46,479.36. Following the completion of the sale, the chief financial officer directly owned 187,432 shares in the company, valued at $1,529,445.12. This trade represents a 2.95% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 7.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arvinas

Several institutional investors have recently modified their holdings of the business. Brummer Multi Strategy AB acquired a new stake in Arvinas during the 4th quarter worth $1,973,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Arvinas by 371.0% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 70,650 shares of the company’s stock worth $838,000 after purchasing an additional 55,650 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Arvinas during the second quarter worth $1,182,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Arvinas in the second quarter valued at about $1,388,000. Finally, Armistice Capital LLC lifted its stake in Arvinas by 50.0% in the fourth quarter. Armistice Capital LLC now owns 1,800,000 shares of the company’s stock valued at $21,348,000 after buying an additional 600,000 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.