Arvinas (NASDAQ:ARVN) Stock Price Down 6.2% – Here’s Why

Arvinas, Inc. (NASDAQ:ARVN)’s share price fell 6.2% during mid-day trading on Thursday . The stock traded as low as $17.37 and last traded at $17.46. 576,232 shares traded hands during trading, a decline of 21% from the average session volume of 730,427 shares. The stock had previously closed at $18.61.

Analyst Ratings Changes

A number of research firms recently issued reports on ARVN. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a research note on Thursday, December 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Oppenheimer reduced their target price 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 lowered their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Finally, BTIG Research began coverage on shares of Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective on the stock. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arvinas currently has an average rating of “Moderate Buy” and a consensus price target of $63.50.

Arvinas Stock Performance

The stock has a fifty day moving average price of $25.26 and a 200-day moving average price of $25.76. The firm has a market cap of $1.22 billion, a PE ratio of -3.80 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. During the same period in the prior year, the business posted ($1.18) EPS. The business’s revenue was up 196.0% on a year-over-year basis. As a group, equities analysts predict that Arvinas, Inc. will post -3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arvinas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of 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 increased its stake in Arvinas by 148.3% during the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after buying an additional 767,242 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in Arvinas by 1.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock worth $30,651,000 after buying an additional 17,723 shares in the last quarter. Candriam S.C.A. boosted its position in Arvinas by 32.0% in the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after buying an additional 147,904 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake 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 valued at $12,347,000 after acquiring an additional 29,635 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.