Arvinas (NASDAQ:ARVN) Shares Down 4.9%

Arvinas, Inc. (NASDAQ:ARVN) shares dropped 4.9% during mid-day trading on Tuesday . The stock traded as low as $24.70 and last traded at $24.70. Approximately 142,640 shares traded hands during trading, a decline of 82% from the average daily volume of 776,375 shares. The stock had previously closed at $25.98.

Analyst Upgrades and Downgrades

ARVN has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research note on Wednesday, May 8th. Stifel Nicolaus reduced their target price on Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Truist Financial reissued a “buy” rating and set a $65.00 target price on shares of Arvinas in a research note on Monday, March 25th. Wells Fargo & Company reduced their target price on Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Finally, HC Wainwright reissued a “buy” rating and set a $87.00 target price on shares of Arvinas in a research note on Friday, May 17th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.13.

Arvinas Stock Down 4.0 %

The company has a fifty day simple moving average of $30.17 and a 200 day simple moving average of $37.76. The firm has a market capitalization of $1.71 billion, a P/E ratio of -4.20 and a beta of 1.98.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, May 7th. The company reported ($0.97) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.45. The company had revenue of $25.30 million during the quarter, compared to the consensus estimate of $32.94 million. During the same period last year, the firm posted ($1.54) earnings per share. The company’s revenue was down 22.2% compared to the same quarter last year. As a group, equities analysts expect that Arvinas, Inc. will post -4.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after purchasing an additional 1,448,166 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Arvinas by 14.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after purchasing an additional 536,295 shares in the last quarter. RTW Investments LP bought a new position in shares of Arvinas during the fourth quarter valued at $173,427,000. Avidity Partners Management LP lifted its holdings in shares of Arvinas by 14.2% during the fourth quarter. Avidity Partners Management LP now owns 2,985,117 shares of the company’s stock valued at $122,867,000 after purchasing an additional 370,157 shares in the last quarter. Finally, Bellevue Group AG lifted its holdings in shares of Arvinas by 18.0% during the fourth quarter. Bellevue Group AG now owns 2,507,731 shares of the company’s stock valued at $103,218,000 after purchasing an additional 382,531 shares in the last quarter. 95.19% of the stock is owned by institutional investors.

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.