Arvinas (NASDAQ:ARVN) Reaches New 52-Week Low – Here’s What Happened

Arvinas, Inc. (NASDAQ:ARVN) reached a new 52-week low during trading on Thursday . The company traded as low as $7.83 and last traded at $7.85, with a volume of 677217 shares changing hands. The stock had previously closed at $7.95.

Wall Street Analysts Forecast Growth

ARVN has been the topic of a number of recent analyst reports. Guggenheim reduced their target price on Arvinas from $57.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Barclays lowered their price objective on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Oppenheimer lowered Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Bank of America lowered their price target on Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Finally, BMO Capital Markets set a $20.00 target price on Arvinas and gave the stock an “outperform” rating in a research note on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Arvinas presently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Arvinas Price Performance

The firm’s 50 day moving average is $15.67 and its two-hundred day moving average is $20.91. The firm has a market capitalization of $549.49 million, a P/E ratio of -2.87 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period in the prior year, the company posted ($2.53) earnings per share. Analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling at Arvinas

In other news, insider Ian Taylor sold 9,020 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the sale, the insider now owns 159,121 shares in the company, valued at $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,230 shares of company stock valued at $769,402 in the last quarter. 5.23% of the stock is currently owned by insiders.

Institutional Trading of Arvinas

Hedge funds and other institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new position in shares of Arvinas during the fourth quarter worth approximately $28,000. KBC Group NV increased its stake in Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after acquiring an additional 1,255 shares during the period. Quantbot Technologies LP raised its holdings in Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after acquiring an additional 2,601 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Arvinas during the 4th quarter valued at $171,000. Finally, Tema Etfs LLC acquired a new stake in shares of Arvinas during the 4th quarter worth $227,000. 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.