Arvinas (NASDAQ:ARVN) Downgraded by Oppenheimer to “Market Perform”

Arvinas (NASDAQ:ARVN) was downgraded by Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports.

ARVN has been the topic of several other research reports. BMO Capital Markets restated an “outperform” rating and issued a $82.00 price objective (down previously from $88.00) on shares of Arvinas in a research note on Wednesday, February 12th. HC Wainwright reissued a “buy” rating and issued a $87.00 target price on shares of Arvinas in a report on Wednesday, December 11th. BTIG Research began coverage on shares of Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price for the company. Stifel Nicolaus cut their price objective on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $56.58.

Arvinas Stock Performance

Shares of NASDAQ ARVN traded down $9.20 during trading hours on Tuesday, hitting $8.36. The stock had a trading volume of 7,894,065 shares, compared to its average volume of 1,189,344. The firm’s 50-day moving average price is $18.22 and its two-hundred day moving average price is $22.38. Arvinas has a 52 week low of $7.91 and a 52 week high of $46.62. The company has a market capitalization of $574.73 million, a P/E ratio of -2.98 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating 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 quarter last year, the company earned ($2.53) EPS. As a group, analysts expect that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Activity

In other Arvinas news, insider Ian Taylor sold 9,020 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 have sold 41,572 shares of company stock worth $695,030 over the last ninety days. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Arvinas during the 4th quarter worth approximately $28,000. KBC Group NV grew its holdings in shares of Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after purchasing an additional 1,255 shares during the last quarter. Quantbot Technologies LP increased its position 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 during the period. KLP Kapitalforvaltning AS acquired a new position in Arvinas during the 4th quarter worth about $171,000. Finally, Tema Etfs LLC bought a new stake in Arvinas in the fourth quarter valued at approximately $227,000. 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.