BMO Capital Markets began coverage on shares of Arvinas (NASDAQ:ARVN) in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm issued an outperform rating and a $34.00 price target on the stock.
A number of other research firms also recently weighed in on ARVN. ValuEngine upgraded Arvinas from a hold rating to a buy rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded Arvinas from a hold rating to a sell rating in a research note on Thursday, August 22nd. Citigroup downgraded Arvinas from a buy rating to a neutral rating and lifted their price target for the company from $21.00 to $22.00 in a research note on Wednesday, June 5th. Finally, Cantor Fitzgerald began coverage on Arvinas in a research note on Monday, August 5th. They issued an overweight rating and a $42.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Arvinas presently has a consensus rating of Buy and a consensus target price of $28.33.
Shares of ARVN stock traded down $0.86 during midday trading on Thursday, hitting $25.21. The company had a trading volume of 190,799 shares, compared to its average volume of 154,085. The company’s 50 day simple moving average is $24.63 and its 200 day simple moving average is $21.69. Arvinas has a 52-week low of $10.19 and a 52-week high of $28.25. The stock has a market cap of $805.84 million and a price-to-earnings ratio of -0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 7.79 and a quick ratio of 7.79.
In related news, major shareholder Ventures Iii L.P. 5Am sold 810,000 shares of Arvinas stock in a transaction on Friday, June 28th. The stock was sold at an average price of $21.87, for a total transaction of $17,714,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean A. Cassidy sold 11,945 shares of Arvinas stock in a transaction on Monday, July 29th. The stock was sold at an average price of $26.22, for a total value of $313,197.90. The disclosure for this sale can be found here. 31.77% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in Arvinas during the second quarter worth $26,000. Bank of Montreal Can raised its holdings in Arvinas by 148,100.0% during 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 acquired a new position in Arvinas during the fourth quarter worth $135,000. Virtus ETF Advisers LLC acquired a new position in Arvinas during the second quarter worth $283,000. Finally, Panagora Asset Management Inc. acquired a new position in Arvinas during the second quarter worth $287,000. 46.03% of the stock is owned by hedge funds and other institutional investors.
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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