Arvinas (NASDAQ:ARVN) Sets New 1-Year Low After Analyst Downgrade

Arvinas, Inc. (NASDAQ:ARVN)’s share price hit a new 52-week low during trading on Monday after Barclays lowered their price target on the stock from $48.00 to $32.00. Barclays currently has an overweight rating on the stock. Arvinas traded as low as $16.95 and last traded at $16.72, with a volume of 38455 shares changing hands. The stock had previously closed at $17.61.

Several other research firms have also recently commented on ARVN. BMO Capital Markets dropped their target price on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Oppenheimer lowered their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a report on Wednesday, December 11th. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. Finally, Stephens started coverage on Arvinas in a 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in Arvinas during the third quarter valued at approximately $39,000. KBC Group NV raised its holdings in Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after purchasing an additional 1,255 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after buying an additional 440 shares during the period. Quantbot Technologies LP lifted its stake in Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after acquiring an additional 2,601 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Arvinas by 37.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after purchasing an additional 1,798 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Trading Down 2.9 %

The business has a 50 day moving average of $20.15 and a two-hundred day moving average of $23.81. The firm has a market cap of $1.17 billion, a P/E ratio of -3.66 and a beta of 1.87.

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.