Arvinas (NASDAQ:ARVN) Downgraded to “Sell” at Zacks Investment Research

Arvinas (NASDAQ:ARVN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, 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. “

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



ARVN traded down $0.03 on Thursday, reaching $23.97. The company had a trading volume of 104,247 shares, compared to its average volume of 152,497. The business has a 50 day simple moving average of $25.03 and a 200 day simple moving average of $21.36. The company has a market cap of $807.19 million and a price-to-earnings ratio of -0.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 7.79 and a current ratio of 7.79. Arvinas has a 52-week low of $10.19 and a 52-week high of $28.25.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Monday, August 5th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.15). The company had revenue of $4.02 million during the quarter, compared to analysts’ expectations of $4.00 million. Arvinas had a negative net margin of 411.20% and a negative return on equity of 239.20%. As a group, equities research analysts predict that Arvinas will post -2 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. bought a new position in Arvinas during the second quarter valued at approximately $26,000. Bank of Montreal Can grew its holdings in shares of Arvinas by 148,100.0% in the second quarter. Bank of Montreal Can now owns 1,482 shares of the company’s stock worth $33,000 after purchasing an additional 1,481 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Arvinas in the fourth quarter worth approximately $135,000. Virtus ETF Advisers LLC bought a new position in shares of Arvinas in the second quarter worth approximately $283,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Arvinas in the second quarter worth approximately $287,000. Institutional investors and hedge funds own 42.75% of the company’s stock.

Arvinas Company Profile

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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