Bank of America Has Lowered Expectations for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its price objective cut by equities research analysts at Bank of America from $54.00 to $28.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 237.35% from the company’s current price.

Several other analysts have also recently commented on the company. Oppenheimer cut Arvinas from an “outperform” rating to a “market perform” rating in a research report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $81.00 price target on shares of Arvinas in a research report on Tuesday. Stephens started coverage on shares of Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective on the stock. Stifel Nicolaus cut their target price on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, BTIG Research began coverage on shares of Arvinas in a research note on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target on the stock. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.46.

Arvinas Trading Down 52.7 %

Shares of ARVN opened at $8.30 on Wednesday. Arvinas has a 1-year low of $7.91 and a 1-year high of $46.62. The stock has a market capitalization of $570.81 million, a P/E ratio of -3.00 and a beta of 1.95. The business’s 50-day moving average price is $18.19 and its 200 day moving average price is $22.33.

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

Insider Buying and Selling

In related news, CEO John G. Houston sold 31,338 shares of the firm’s 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 owns 1,157,480 shares in the company, valued at $19,353,065.60. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction of $150,724.20. Following the transaction, the insider now directly owns 159,121 shares of the company’s stock, valued at $2,658,911.91. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,572 shares of company stock valued at $695,030 over the last three months. 5.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. grew its holdings in Arvinas by 1.6% during the 4th quarter. Invesco Ltd. now owns 37,254 shares of the company’s stock worth $714,000 after acquiring an additional 581 shares during the period. Rhumbline Advisers grew its stake in shares of Arvinas by 0.9% during the fourth quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock worth $1,685,000 after purchasing an additional 754 shares during the period. Assenagon Asset Management S.A. lifted its stake in Arvinas by 0.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock valued at $2,694,000 after buying an additional 777 shares during the period. Bank of Montreal Can boosted its holdings in Arvinas by 2.7% during the fourth quarter. Bank of Montreal Can now owns 39,407 shares of the company’s stock worth $755,000 after buying an additional 1,044 shares during the last quarter. Finally, KBC Group NV boosted its holdings in 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. 95.19% of the stock is currently owned by institutional investors.

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.