Arvinas (NASDAQ:ARVN) Stock Price Down 3.5%

Arvinas, Inc. (NASDAQ:ARVN)’s share price was down 3.5% on Wednesday . The stock traded as low as $24.01 and last traded at $24.01. Approximately 18,557 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 731,850 shares. The stock had previously closed at $24.88.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ARVN. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a report on Tuesday, July 30th. HC Wainwright reiterated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research report on Thursday, August 1st. Barclays lowered their price objective on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Oppenheimer decreased their target price on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and an average price target of $57.50.

Arvinas Trading Down 1.2 %

The business has a 50 day moving average price of $25.63 and a 200-day moving average price of $29.96. The firm has a market capitalization of $1.68 billion, a PE ratio of -4.20 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.08) by $0.59. The business had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $33.27 million. During the same quarter in the previous year, the company posted ($1.25) EPS. The company’s revenue was up 40.4% compared to the same quarter last year. On average, equities research analysts forecast that Arvinas, Inc. will post -3.51 earnings per share for the current year.

Institutional Trading of Arvinas

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC purchased a new position in Arvinas in the second quarter valued at about $42,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Arvinas in the 1st quarter valued at approximately $44,000. Amalgamated Bank raised its holdings in Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after purchasing an additional 508 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in Arvinas during the second quarter worth $185,000. Finally, Personal CFO Solutions LLC acquired a new stake in Arvinas in the fourth quarter valued at $206,000. Institutional investors and hedge funds 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.