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

Arvinas, Inc. (NASDAQ:ARVN)’s stock price reached a new 52-week low on Monday . The company traded as low as $16.43 and last traded at $16.26, with a volume of 210125 shares traded. The stock had previously closed at $17.77.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARVN. Stephens started coverage on shares of Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target for the company. Oppenheimer increased their target price on shares of Arvinas from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research note on Tuesday, February 11th. Stifel Nicolaus lowered their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Finally, Guggenheim reaffirmed a “buy” rating and set a $57.00 price target on shares of Arvinas in a research note on Wednesday, February 12th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $60.00.

Arvinas Stock Down 4.7 %

The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -6.11 and a beta of 1.88. The company has a 50 day simple moving average of $18.49 and a 200-day simple moving average of $22.91.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ARVN. T. Rowe Price Investment Management Inc. acquired a new stake in Arvinas in the fourth quarter worth about $42,332,000. Norges Bank purchased a new stake in shares of Arvinas during the fourth quarter valued at $23,845,000. Boxer Capital Management LLC purchased a new position in shares of Arvinas in the fourth quarter worth approximately $20,294,000. Braidwell LP raised its holdings in shares of Arvinas by 148.3% during 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 during the period. Finally, RTW Investments LP raised its holdings in shares of Arvinas by 19.8% during the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock valued at $63,919,000 after acquiring an additional 551,979 shares during the period. Institutional investors 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.