Arvinas (NASDAQ:ARVN) Shares Down 5.7%

Shares of Arvinas, Inc. (NASDAQ:ARVN) dropped 5.7% on Tuesday . The company traded as low as $20.29 and last traded at $20.53. Approximately 179,401 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 463,578 shares. The stock had previously closed at $21.77.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ARVN shares. Citigroup reduced their price target on Arvinas from $72.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. Oppenheimer restated an “outperform” rating and set a $95.00 target price on shares of Arvinas in a research report on Wednesday, August 9th. Guggenheim upgraded shares of Arvinas from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Monday. Morgan Stanley lowered their target price on shares of Arvinas from $32.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, November 13th. Finally, Stifel Nicolaus cut their target price on shares of Arvinas from $46.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Arvinas currently has an average rating of “Moderate Buy” and a consensus price target of $55.20.

Arvinas Trading Down 5.7 %

The firm’s 50 day moving average price is $18.85 and its two-hundred day moving average price is $22.84. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -3.72 and a beta of 1.86.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, November 7th. The company reported ($1.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.58) by $0.40. Arvinas had a negative return on equity of 59.18% and a negative net margin of 185.09%. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate of $39.58 million. During the same quarter in the previous year, the business earned ($1.24) earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, equities research analysts predict that Arvinas, Inc. will post -5.26 EPS for the current year.

Hedge Funds Weigh In On Arvinas

Several hedge funds and other institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. grew its stake in shares of Arvinas by 96.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company’s stock worth $27,000 after buying an additional 674 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Arvinas during the 3rd quarter valued at $28,000. PNC Financial Services Group Inc. grew its position in Arvinas by 1,015.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock worth $34,000 after acquiring an additional 1,259 shares during the last quarter. Royal Bank of Canada increased its holdings in Arvinas by 37.6% in the 3rd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock worth $54,000 after purchasing an additional 336 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Arvinas during the fourth quarter valued at about $54,000. Institutional investors own 86.33% 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.