Arvinas (NASDAQ:ARVN) Given New $12.00 Price Target at Morgan Stanley

Arvinas (NASDAQ:ARVN) had its price target lowered by Morgan Stanley from $48.00 to $12.00 in a report published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other analysts also recently issued reports on ARVN. 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. Guggenheim cut their price target on shares of Arvinas from $57.00 to $32.00 and set a “buy” rating for the company in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Wedbush downgraded shares of Arvinas from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $12.00 in a report on Wednesday. Finally, BTIG Research began coverage on shares of Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.47.

Arvinas Stock Performance

Shares of ARVN opened at $8.43 on Thursday. The business’s 50-day moving average is $17.32 and its two-hundred day moving average is $21.86. Arvinas has a fifty-two week low of $7.91 and a fifty-two week high of $45.77. The company has a market capitalization of $579.75 million, a P/E ratio of -3.04 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted ($2.53) EPS. Analysts forecast that Arvinas will post -3.81 EPS for the current year.

Insider Buying and Selling

In other Arvinas news, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were 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 of the company’s stock, valued at $19,353,065.60. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the insider now directly owns 159,121 shares of the company’s stock, valued at $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,572 shares of company stock valued at $695,030 in the last quarter. Company insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after purchasing an additional 367,343 shares during the period. Baker BROS. Advisors LP bought a new stake in shares of Arvinas during the 3rd quarter worth about $9,989,000. SG Americas Securities LLC raised its position in shares of Arvinas by 228.8% during the 4th 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. Wasatch Advisors LP raised its position in shares of Arvinas by 58.3% during the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after buying an additional 160,510 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Arvinas by 198.9% during the 3rd 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 and hedge funds.

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.