Arvinas (NASDAQ:ARVN) Given New $8.00 Price Target at The Goldman Sachs Group

Arvinas (NASDAQ:ARVN) had its price target decreased by investment analysts at The Goldman Sachs Group from $12.00 to $8.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 3.63% from the stock’s current price.

Several other research firms have also issued reports on ARVN. Wells Fargo & Company set a $26.00 price target on shares of Arvinas and gave the stock an “overweight” rating in a research report on Wednesday, March 12th. Jefferies Financial Group reaffirmed a “hold” rating and set a $10.00 price objective (down from $52.00) on shares of Arvinas in a research report on Friday. Truist Financial dropped their price objective on shares of Arvinas from $65.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. BMO Capital Markets set a $20.00 price target on shares of Arvinas and gave the company an “outperform” rating in a report on Wednesday, March 12th. Finally, Oppenheimer downgraded Arvinas from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.82.

Arvinas Stock Performance

Shares of Arvinas stock opened at $7.72 on Friday. Arvinas has a 52-week low of $5.94 and a 52-week high of $37.38. The business’s 50 day simple moving average is $9.66 and its 200 day simple moving average is $17.44. The firm has a market cap of $563.49 million, a PE ratio of -2.79 and a beta of 2.21.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the company posted ($0.97) EPS. The firm’s revenue for the quarter was up 646.2% compared to the same quarter last year. As a group, equities research analysts predict that Arvinas will post -3.81 EPS for the current year.

Insider Transactions at Arvinas

In other news, insider Ian Taylor sold 9,020 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the transaction, the insider now owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. The trade was a 5.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Noah Berkowitz sold 8,658 shares of the firm’s stock in a transaction dated 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 $945,097.57. This trade represents a 7.30 % decrease in their ownership of the stock. 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. 5.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ARVN. GF Fund Management CO. LTD. bought a new stake in shares of Arvinas during the 4th quarter valued at approximately $28,000. CWM LLC boosted its position in Arvinas by 2,317.5% in the first quarter. CWM LLC now owns 7,615 shares of the company’s stock valued at $53,000 after buying an additional 7,300 shares in the last quarter. KBC Group NV grew its stake in shares of Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after buying an additional 1,255 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Arvinas during the first quarter worth $80,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Arvinas by 119.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,642 shares of the company’s stock valued at $103,000 after acquiring an additional 7,983 shares during the last quarter. Institutional investors own 95.19% of the company’s stock.

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.