Arvinas (NASDAQ:ARVN) Hits New 52-Week Low – Here’s Why

Arvinas, Inc. (NASDAQ:ARVN)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $18.49 and last traded at $18.53, with a volume of 486830 shares trading hands. The stock had previously closed at $19.10.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARVN. Stephens began coverage on Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target for the company. Oppenheimer decreased their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. BMO Capital Markets cut their target price on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and set a $87.00 price target on shares of Arvinas in a research report on Wednesday, December 11th. Finally, BTIG Research initiated coverage on Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and an average target price of $63.50.

Arvinas Price Performance

The stock’s 50 day moving average is $25.26 and its two-hundred day moving average is $25.76. The stock has a market capitalization of $1.28 billion, a PE ratio of -3.99 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. Arvinas’s revenue for the quarter was up 196.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.18) earnings per share. On average, equities analysts predict that Arvinas, Inc. will post -3.22 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Arvinas by 7.6% during the third 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 in the last quarter. Braidwell LP boosted its stake in Arvinas by 148.3% in the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after acquiring an additional 767,242 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Arvinas by 1.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock worth $30,651,000 after purchasing an additional 17,723 shares during the last quarter. Candriam S.C.A. increased its position in Arvinas by 32.0% during the second quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock worth $16,250,000 after buying an additional 147,904 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Arvinas by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 463,935 shares of the company’s stock worth $12,347,000 after acquiring an additional 29,635 shares during the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

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.