Truist Financial Lowers Arvinas (NASDAQ:ARVN) Price Target to $21.00

Arvinas (NASDAQ:ARVN) had its price objective dropped by stock analysts at Truist Financial from $65.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 217.22% from the company’s current price.

A number of other equities analysts also recently commented on ARVN. Guggenheim cut their price objective on shares of Arvinas from $57.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Citigroup cut their price target on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, March 7th. The Goldman Sachs Group lowered Arvinas from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $70.00 to $15.00 in a report on Thursday, March 13th. Morgan Stanley cut their target price on Arvinas from $48.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, HC Wainwright restated a “buy” rating and issued a $81.00 price target on shares of Arvinas in a research note on Monday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.53.

Arvinas Stock Down 1.6 %

Shares of ARVN stock opened at $6.62 on Wednesday. The stock’s 50-day moving average price is $12.80 and its 200 day moving average price is $19.30. The stock has a market capitalization of $455.27 million, a PE ratio of -2.39 and a beta of 2.30. Arvinas has a 52-week low of $5.94 and a 52-week high of $39.34.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period last year, the company earned ($2.53) EPS. Analysts expect that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Activity at Arvinas

In related news, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. The trade was a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Noah Berkowitz sold 8,658 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the completion of the sale, the insider now directly owns 110,023 shares in the company, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,230 shares of company stock valued at $769,402. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Arvinas

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after purchasing an additional 367,343 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Arvinas in the 4th quarter valued at about $1,534,000. BIT Capital GmbH grew its holdings in shares of Arvinas by 291.7% during the fourth quarter. BIT Capital GmbH now owns 263,527 shares of the company’s stock worth $5,052,000 after buying an additional 196,246 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Arvinas by 228.8% during the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after buying an additional 22,564 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Arvinas in the fourth quarter valued at approximately $23,845,000. 95.19% of the stock is owned by institutional investors and hedge funds.

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.