Arvinas (NASDAQ:ARVN) Sets New 12-Month Low – Should You Sell?

Arvinas, Inc. (NASDAQ:ARVN) hit a new 52-week low during trading on Monday . The stock traded as low as $17.34 and last traded at $17.53, with a volume of 309175 shares traded. The stock had previously closed at $18.62.

Analyst Ratings Changes

Several brokerages recently commented on ARVN. HC Wainwright reiterated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research note on Wednesday, December 11th. BMO Capital Markets reduced 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. Stephens assumed coverage on Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target on the stock. Oppenheimer dropped their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, BTIG Research initiated coverage on Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price on the stock. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.50.

Arvinas Price Performance

The company has a 50-day moving average of $22.57 and a two-hundred day moving average of $24.86. The stock has a market capitalization of $1.23 billion, a PE ratio of -3.83 and a beta of 1.87.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $60.56 million. During the same quarter in the previous year, the company earned ($1.18) earnings per share. The company’s revenue was up 196.0% on a year-over-year basis. On average, research analysts forecast that Arvinas, Inc. will post -3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after purchasing an additional 204,317 shares during the period. JPMorgan Chase & Co. raised its holdings in Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares during the period. Braidwell LP raised its holdings in Arvinas by 148.3% in the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after buying an additional 767,242 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in Arvinas by 1.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock valued at $30,651,000 after buying an additional 17,723 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Arvinas by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 463,935 shares of the company’s stock worth $12,347,000 after buying an additional 29,635 shares during the period. 95.19% of the stock is owned by hedge funds and other institutional investors.

Arvinas Company Profile

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.