Arvinas (NASDAQ:ARVN) Downgraded by The Goldman Sachs Group to Neutral

The Goldman Sachs Group cut shares of Arvinas (NASDAQ:ARVN) from a buy rating to a neutral rating in a research note released on Thursday, Marketbeat.com reports. The firm currently has $15.00 target price on the stock, down from their previous target price of $70.00.

Several other research firms have also recently commented on ARVN. Wedbush cut Arvinas from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $57.00 to $12.00 in a research note on Wednesday. Guggenheim reissued a “buy” rating and set a $57.00 price target on shares of Arvinas in a research report on Wednesday, February 12th. Stifel Nicolaus dropped their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. HC Wainwright reissued a “buy” rating and set a $81.00 price target on shares of Arvinas in a research report on Tuesday, March 11th. Finally, Barclays dropped their price target on Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Arvinas has a consensus rating of “Moderate Buy” and a consensus price target of $37.47.

Arvinas Stock Down 1.4 %

NASDAQ ARVN opened at $8.43 on Thursday. The stock has a market cap of $579.75 million, a PE ratio of -3.04 and a beta of 1.95. Arvinas has a fifty-two week low of $7.91 and a fifty-two week high of $45.77. The business has a 50 day moving average price of $17.32 and a two-hundred day moving average price of $21.86.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted ($2.53) earnings per share. Sell-side analysts anticipate that Arvinas will post -3.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ian Taylor sold 9,020 shares of the firm’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 transaction, the insider now directly owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. This trade represents a 2.64 % 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 over the last three months. Company insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARVN. GF Fund Management CO. LTD. bought a new position in Arvinas during the fourth quarter valued at about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Arvinas by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 433,531 shares of the company’s stock valued at $8,311,000 after buying an additional 3,047 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Arvinas during the fourth quarter valued at about $749,000. Woodline Partners LP boosted its stake in Arvinas by 39.2% during the fourth quarter. Woodline Partners LP now owns 692,733 shares of the company’s stock valued at $13,280,000 after buying an additional 194,996 shares in the last quarter. Finally, Twinbeech Capital LP bought a new position in Arvinas during the fourth quarter valued at about $3,146,000. 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.