Arvinas (NASDAQ:ARVN) Trading Down 6.2% – Should You Sell?

Shares of Arvinas, Inc. (NASDAQ:ARVN) fell 6.2% during trading on Thursday . The stock traded as low as $17.37 and last traded at $17.46. 576,232 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 730,427 shares. The stock had previously closed at $18.61.

Wall Street Analyst Weigh In

ARVN has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Wednesday, December 11th. Stephens began coverage on shares of Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price on the stock. BMO Capital Markets dropped their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Finally, BTIG Research initiated coverage on Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 target price for the company. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Arvinas presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Arvinas Price Performance

The stock has a 50 day moving average price of $24.83 and a two-hundred day moving average price of $25.59. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -3.96 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. During the same quarter in the previous year, the business posted ($1.18) EPS. The company’s revenue was up 196.0% compared to the same quarter last year. Sell-side analysts forecast that Arvinas, Inc. will post -3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after buying an additional 440 shares during the last quarter. Amalgamated Bank raised its position in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after acquiring an additional 508 shares during the last quarter. Edgestream Partners L.P. lifted its stake in shares of Arvinas by 16.3% in the 2nd quarter. Edgestream Partners L.P. now owns 9,311 shares of the company’s stock valued at $248,000 after purchasing an additional 1,305 shares during the period. Quest Partners LLC bought a new position in shares of Arvinas in the 2nd quarter worth $42,000. Finally, nVerses Capital LLC bought a new position in shares of Arvinas in the 3rd quarter worth $39,000. 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.