Guggenheim Issues Pessimistic Forecast for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its price objective lowered by stock analysts at Guggenheim from $57.00 to $32.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 270.50% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus cut their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. BMO Capital Markets set a $20.00 price target on Arvinas and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company set a $26.00 price objective on Arvinas and gave the company an “overweight” rating in a research note on Wednesday. Barclays reduced their target price on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $81.00 price target on shares of Arvinas in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Arvinas presently has an average rating of “Moderate Buy” and a consensus target price of $39.29.

Arvinas Price Performance

Shares of Arvinas stock traded down $0.39 during trading on Thursday, reaching $8.64. 2,070,118 shares of the company traded hands, compared to its average volume of 1,612,137. Arvinas has a 1-year low of $7.91 and a 1-year high of $46.23. The firm has a market capitalization of $593.98 million, a PE ratio of -3.08 and a beta of 1.95. The company has a 50 day moving average price of $17.77 and a 200-day moving average price of $22.11.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period in the previous year, the firm earned ($2.53) earnings per share. Equities research analysts expect that Arvinas will post -3.81 earnings per share for the current year.

Insider Activity at Arvinas

In other Arvinas news, insider Ian Taylor sold 9,020 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the transaction, the insider now owns 159,121 shares in the company, valued at $2,658,911.91. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 approximately $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,572 shares of company stock worth $695,030. 5.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in Arvinas in the fourth quarter worth approximately $28,000. KBC Group NV grew its holdings in shares of Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after purchasing an additional 1,255 shares during the last quarter. Quantbot Technologies LP raised its position in Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after purchasing an additional 2,601 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Arvinas in the fourth quarter worth $171,000. Finally, Tema Etfs LLC purchased a new stake in Arvinas during the fourth quarter valued at about $227,000. 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.