Arvinas (NASDAQ:ARVN) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Arvinas (NASDAQ:ARVN) issued its quarterly earnings data on Monday. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($0.95) by $0.05, FiscalAI reports. Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The firm had revenue of $15.60 million for the quarter, compared to analyst estimates of $16.61 million.

Arvinas Stock Performance

Shares of NASDAQ:ARVN traded down $0.45 during trading on Monday, hitting $9.66. The company’s stock had a trading volume of 1,173,123 shares, compared to its average volume of 843,986. The business has a 50 day moving average price of $11.43 and a two-hundred day moving average price of $11.68. The company has a market capitalization of $623.23 million, a PE ratio of -7.55 and a beta of 1.79. Arvinas has a fifty-two week low of $5.90 and a fifty-two week high of $14.51.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ARVN. Piper Sandler restated an “overweight” rating and issued a $20.00 price objective (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Citigroup upped their price objective on shares of Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wedbush upped their price objective on shares of Arvinas from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. BTIG Research upped their price objective on shares of Arvinas from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Finally, Wall Street Zen lowered shares of Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Arvinas presently has a consensus rating of “Hold” and a consensus target price of $14.86.

Insiders Place Their Bets

In other Arvinas news, insider Noah Berkowitz sold 6,435 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $11.10, for a total value of $71,428.50. Following the completion of the transaction, the insider owned 202,503 shares in the company, valued at $2,247,783.30. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Randy Teel sold 4,786 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $12.16, for a total transaction of $58,197.76. Following the completion of the transaction, the chief executive officer owned 149,696 shares of the company’s stock, valued at approximately $1,820,303.36. This trade represents a 3.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 63,864 shares of company stock valued at $802,443. Corporate insiders own 4.73% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after purchasing an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after purchasing an additional 3,500 shares during the last quarter. Jain Global LLC purchased a new stake in shares of Arvinas in the 3rd quarter valued at approximately $95,000. Oxford Asset Management LLP increased its position in shares of Arvinas by 15.5% in the 2nd quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock valued at $123,000 after purchasing an additional 2,242 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Arvinas in the 3rd quarter valued at approximately $124,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

About Arvinas

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.