Arvinas (NASDAQ:ARVN) Shares Down 8.6% – Should You Sell?

Shares of Arvinas, Inc. (NASDAQ:ARVN) traded down 8.6% during mid-day trading on Tuesday . The company traded as low as $17.04 and last traded at $17.34. 118,118 shares were traded during trading, a decline of 86% from the average session volume of 825,695 shares. The stock had previously closed at $18.97.

Analyst Ratings Changes

Several research analysts recently commented on ARVN shares. BTIG Research started coverage on shares of Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price target on shares of Arvinas in a research report on Wednesday, December 11th. Oppenheimer decreased their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Stephens initiated coverage on shares of Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target for the company. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.45.

Arvinas Price Performance

The stock has a fifty day moving average price of $19.46 and a two-hundred day moving average price of $23.44. The company has a market cap of $1.22 billion, a P/E ratio of -3.81 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.44. During the same period in the prior year, the firm posted ($2.53) earnings per share. As a group, analysts forecast that Arvinas, Inc. will post -3.22 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after acquiring an additional 367,343 shares in the last quarter. Baker BROS. Advisors LP bought a new stake in Arvinas in the third quarter worth about $9,989,000. SG Americas Securities LLC raised its position in Arvinas by 228.8% in the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after acquiring an additional 22,564 shares in the last quarter. Wasatch Advisors LP raised its position in Arvinas by 58.3% in the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after acquiring an additional 160,510 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after buying an additional 80,984 shares in the last quarter. 95.19% of the stock is owned by 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.