Guggenheim Lowers Arvinas (NASDAQ:ARVN) Price Target to $32.00

Arvinas (NASDAQ:ARVN) had its price objective cut by stock analysts at Guggenheim from $57.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 270.50% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer cut Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday. Stephens began coverage on shares of Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target for the company. Barclays lowered their price objective on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company set a $26.00 target price on Arvinas and gave the stock an “overweight” rating in a research report on Wednesday. Finally, BMO Capital Markets set a $20.00 price target on Arvinas and gave the company an “outperform” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.29.

Arvinas Stock Performance

Shares of NASDAQ ARVN traded down $0.39 during mid-day trading on Thursday, hitting $8.64. The stock had a trading volume of 2,070,118 shares, compared to its average volume of 1,612,137. The business has a 50 day moving average price of $17.77 and a two-hundred day moving average price of $22.11. Arvinas has a 1 year low of $7.91 and a 1 year high of $46.23. The firm has a market cap of $593.98 million, a P/E ratio of -3.08 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates 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 earned ($2.53) earnings per share. Equities research analysts predict that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Transactions at Arvinas

In other Arvinas news, insider Ian Taylor sold 9,020 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction of $150,724.20. Following the transaction, the insider now owns 159,121 shares in the company, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction that occurred on 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 of the company’s stock, valued at $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,572 shares of company stock worth $695,030. Corporate insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in shares of Arvinas in the 4th quarter worth $28,000. KBC Group NV boosted its stake in shares of Arvinas by 77.0% in the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after acquiring an additional 1,255 shares during the period. Quantbot Technologies LP grew its position in shares of Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after purchasing an additional 2,601 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Arvinas during the 4th quarter valued at approximately $171,000. Finally, Tema Etfs LLC bought a new stake in Arvinas during the 4th quarter valued at approximately $227,000. Hedge funds and other institutional investors 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.