Arvinas (NASDAQ:ARVN) Shares Gap Down – Here’s Why

by · The Cerbat Gem

Arvinas, Inc. (NASDAQ:ARVN – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $26.72, but opened at $26.00. Arvinas shares last traded at $26.47, with a volume of 49,216 shares.

Analyst Ratings Changes

ARVN has been the subject of several recent analyst reports. Oppenheimer lowered their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research note on Thursday, October 31st. Stephens assumed coverage on shares of Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Finally, BMO Capital Markets decreased their price objective on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.08.

View Our Latest Stock Analysis on Arvinas

Arvinas Trading Down 5.9 %

The business’s 50 day simple moving average is $25.70 and its two-hundred day simple moving average is $26.60. The firm has a market capitalization of $1.66 billion, a PE ratio of -5.18 and a beta of 1.82.

Arvinas (NASDAQ:ARVN – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to the consensus estimate of $60.56 million. During the same period in the previous year, the firm earned ($1.18) EPS. The business’s revenue was up 196.0% on a year-over-year basis. As a group, equities research analysts anticipate that Arvinas, Inc. will post -3.24 earnings per share for the current year.

Institutional Investors Weigh In On Arvinas

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC bought a new stake in Arvinas during the second quarter valued at approximately $42,000. nVerses Capital LLC purchased a new position in shares of Arvinas during the 3rd quarter worth $39,000. Amalgamated Bank grew its position in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after acquiring an additional 508 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after purchasing an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings 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. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

(Get Free Report)

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.

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