Arvinas (NASDAQ:ARVN) Cut to Neutral at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Arvinas (NASDAQ:ARVN) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. They currently have $15.00 price target on the stock, down from their prior price target of $70.00.

Several other equities research analysts have also commented on ARVN. BMO Capital Markets set a $20.00 price objective on shares of Arvinas and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup decreased their price objective on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Bank of America decreased their price objective on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays decreased their price objective on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Stephens started coverage on shares of Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.47.

Arvinas Stock Performance

Shares of NASDAQ ARVN opened at $8.43 on Thursday. The firm has a market capitalization of $579.75 million, a P/E ratio of -3.04 and a beta of 1.95. Arvinas has a one year low of $7.91 and a one year high of $45.77. The company’s fifty day moving average is $17.32 and its two-hundred day moving average is $21.86.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter last year, the company posted ($2.53) EPS. On average, sell-side analysts forecast that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John G. Houston sold 31,338 shares of the business’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 completion of the sale, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. The trade was a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian Taylor sold 9,020 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the sale, the insider now owns 159,121 shares of the company’s stock, valued at $2,658,911.91. The trade was a 5.36 % 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 in the last 90 days. 5.23% of the stock is currently owned by insiders.

Institutional Trading of Arvinas

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Arvinas by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock worth $135,389,000 after purchasing an additional 56,561 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Arvinas by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock worth $78,656,000 after purchasing an additional 249,295 shares during the period. RTW Investments LP grew its holdings in shares of Arvinas by 19.8% during the 4th quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock worth $63,919,000 after purchasing an additional 551,979 shares during the period. FMR LLC grew its holdings in shares of Arvinas by 7.6% during the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after purchasing an additional 204,317 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after purchasing an additional 367,343 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

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.