Arvinas, Inc. (NASDAQ:ARVN – Get Free Report)’s share price fell 4.9% on Tuesday . The stock traded as low as $24.70 and last traded at $24.70. 142,640 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 776,375 shares. The stock had previously closed at $25.98.
Wall Street Analysts Forecast Growth
ARVN has been the subject of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Friday, May 17th. Truist Financial reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Arvinas in a research note on Monday, March 25th. Stifel Nicolaus reduced their target price on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Wedbush reissued an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company dropped their price objective on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Arvinas currently has an average rating of “Moderate Buy” and a consensus target price of $61.13.
Arvinas Price Performance
The stock has a market capitalization of $1.70 billion, a P/E ratio of -4.20 and a beta of 1.98. The stock’s fifty day moving average is $30.17 and its two-hundred day moving average is $37.76.
Arvinas (NASDAQ:ARVN – Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.45. The company had revenue of $25.30 million during the quarter, compared to analysts’ expectations of $32.94 million. The firm’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.54) EPS. Analysts expect that Arvinas, Inc. will post -4.08 EPS for the current year.
Institutional Investors Weigh In On Arvinas
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Arvinas during the 1st quarter worth $44,000. McGlone Suttner Wealth Management Inc. acquired a new position in Arvinas in the fourth quarter valued at about $75,000. Headlands Technologies LLC grew its stake in Arvinas by 393.4% during the fourth quarter. Headlands Technologies LLC now owns 2,388 shares of the company’s stock worth $98,000 after buying an additional 1,904 shares during the last quarter. Personal CFO Solutions LLC bought a new position in shares of Arvinas in the fourth quarter valued at approximately $206,000. Finally, Exchange Traded Concepts LLC grew its position in Arvinas by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,746 shares of the company’s stock worth $237,000 after acquiring an additional 1,457 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.
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.