Arvinas (NASDAQ:ARVN) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Arvinas (NASDAQ:ARVN) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Arvinas Inc. is a biopharmaceutical company for patients suffering from debilitating and life-threatening diseases. It engages in the discovery, development and commercialization of therapies to degrade disease-causing proteins. Arvinas Inc. is based in CT, United States. “

Several other research firms have also weighed in on ARVN. Piper Jaffray Companies lifted their price objective on Arvinas from $23.00 to $32.00 and gave the company an overweight rating in a research note on Wednesday, May 8th. Citigroup lowered Arvinas from a buy rating to a neutral rating and lifted their price objective for the company from $21.00 to $22.00 in a research note on Wednesday, June 5th. Cantor Fitzgerald assumed coverage on Arvinas in a research note on Monday, August 5th. They issued an overweight rating and a $42.00 price objective on the stock. Finally, ValuEngine raised Arvinas from a hold rating to a buy rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Arvinas has an average rating of Hold and an average target price of $27.20.



Shares of NASDAQ ARVN traded down $0.13 during midday trading on Wednesday, hitting $23.74. The stock had a trading volume of 402 shares, compared to its average volume of 133,956. The company has a market cap of $814.61 million and a P/E ratio of -0.94. Arvinas has a 1-year low of $10.19 and a 1-year high of $28.25. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $24.87.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.15). The firm had revenue of $4.02 million during the quarter, compared to analyst estimates of $4.00 million. Arvinas had a negative net margin of 411.20% and a negative return on equity of 239.20%. On average, sell-side analysts anticipate that Arvinas will post -2 earnings per share for the current fiscal year.

In related news, CFO Sean A. Cassidy sold 11,945 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $26.22, for a total transaction of $313,197.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ventures Iii L.P. 5Am sold 190,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $19.65, for a total value of $3,733,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,011,945 shares of company stock worth $21,761,398 over the last three months. 31.77% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ARVN. Meeder Asset Management Inc. acquired a new position in Arvinas during the 2nd quarter worth approximately $26,000. Bank of Montreal Can lifted its position in Arvinas by 148,100.0% during the 2nd quarter. Bank of Montreal Can now owns 1,482 shares of the company’s stock worth $33,000 after acquiring an additional 1,481 shares in the last quarter. Deutsche Bank AG acquired a new position in Arvinas during the 4th quarter worth approximately $135,000. Virtus ETF Advisers LLC acquired a new position in Arvinas during the 2nd quarter worth approximately $283,000. Finally, Panagora Asset Management Inc. acquired a new position in Arvinas during the 2nd quarter worth approximately $287,000. 41.24% of the stock is currently owned by hedge funds and other institutional investors.

About Arvinas

Arvinas, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead products include ARV-110, proteolysis targeting chimeras (PROTAC) that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer; and ARV-471, a PROTAC targeting the estrogen receptor protein for the treatment of women with metastatic ER positive/HER2 negative breast cancer.

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