Arvinas (NASDAQ:ARVN) Stock Price Down 3.1%

Arvinas, Inc. (NASDAQ:ARVN) shares were down 3.1% on Wednesday . The stock traded as low as $24.68 and last traded at $24.72. Approximately 25,556 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 763,460 shares. The stock had previously closed at $25.50.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Oppenheimer reduced their target price on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company dropped their price objective on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research note on Tuesday, July 30th. Finally, Barclays decreased their price target on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Arvinas Price Performance

The company’s 50 day simple moving average is $26.51 and its 200 day simple moving average is $32.83. The stock has a market cap of $1.71 billion, a P/E ratio of -4.21 and a beta of 1.97.

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

Institutional Investors Weigh In On Arvinas

Hedge funds have recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Arvinas during the 1st quarter worth approximately $44,000. Quest Partners LLC bought a new stake in shares of Arvinas during the second quarter worth $42,000. Amalgamated Bank raised its holdings in shares of Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after acquiring an additional 508 shares during the period. Personal CFO Solutions LLC bought a new stake in Arvinas in the 4th quarter valued at $206,000. Finally, Cullinan Associates Inc. bought a new stake in Arvinas in the 1st quarter valued at $248,000. 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.