Skip to Content

Arvinas (NASDAQ:ARVN) Stock Drops 4.5% Following Analyst Downgrade

Arvinas (NASDAQ:ARVN) Stock Drops 4.5% Following Analyst Downgrade

Wedbush lowered their price objective on shares of Arvinas, Inc. (NASDAQ: ARVN), dropping it from $43.00 to $27.00 during the session that took place on Wednesday during the middle of the day. After this news was released, the stock experienced a decrease of 4.5 percent. Throughout trading, the price of a share has, at various points, moved in a range that spans from $30 to $30.08 per share. Compared to the daily average volume of 808,331 shares, which occurred during trading at midday, the amount that occurred during trading, which was a total of 16,608 shares traded, represented a decrease of 98%. When the market had previously closed, the stock price was 31.51 dollars per share.

In addition, ARVN has been the focus of coverage in various other reports. SVB Leerink lowered their price target for Arvinas in a report published on Tuesday, November 22. The new price target is $74.00, down from the previous price target of $89.00. Additionally, the stock of the company was given an “outperform” rating by the brokerage firm. In a research note published on November 23, Barclays downgraded Arvinas from “overweight” to “equal weight” and lowered their price objective for the company from $90.00 to $70.00. Both of these changes were made. Wells Fargo & Company downgraded its recommendation for Arvinas on Monday, January 2, moving it from “overweight” to “equal weight.” In addition, they lowered the price target they had set for the stock from $83.00 to $49.00. In a research report published on November 23, Trust Financial said they would lower their price target for Arvinas from $170.00 to $100.00. The report was about the company’s stock. The announcement was made by Credit Suisse Group on Tuesday, November 15, in a research note that was made public. They stated they were increasing their price objective for Arvinas to $80.00. Twelve research analysts have assigned a buy rating to the company, while only four have assigned a hold rating to the stock. The “Moderate Buy” recommendation and the target price of $73.19 have been provided by Bloomberg in relation to the company’s stock. The average rating for this recommendation is “Moderate Buy.”

In recent months, several hedge funds have altered their investment strategies regarding ARVN. During the third quarter, ProShare Advisors LLC completed a 2.4% increase in Arvinas stock in its portfolio. Since the beginning of the current fiscal quarter, ProShare Advisors LLC has purchased 233 shares of the company’s stock, bringing the total value of its holdings up to $437,000. During the third quarter, Nisa Investment Advisors LLC made a 25.8 percent purchase of additional shares of Arvina’s stock, bringing the total number of shares it owned to a total of 1.2 million. Nisa Investment Advisors LLC now has a total of 1,384 shares of the company’s stock, which has a value of $69,000, thanks to the purchase of an additional 284 shares during the most recent fiscal quarter. This brings the total number of shares owned by the firm to 1,384. The Royal Bank of Canada increased the proportion of Arvina’s stock owned by 37.6% during the third quarter of the fiscal year. After making an additional purchase of 336 shares during the most recent quarter, Royal Bank of Canada now has a total of 1,230 shares of the company’s stock, valued at $54,000. This brings the total number of shares owned by the company to 1,230. During the second quarter, Virtus ETF Advisers LLC accomplished a 22.7% increase in the proportion of Arvinas shares it owned. The most recent quarter saw Virtus ETF Advisers LLC acquire 532 additional company shares, bringing the total number of shares owned to 2,880, with a value of $121,000. In addition, the value of these shares increased. During the second quarter, Occudo Quantitative Strategies LP boosted the amount of Arvinas shares it owned by 9.4 percent, making this the last and most important point. Following acquiring an additional 559 shares during the most recent fiscal quarter, Occudo Quantitative Strategies LP now holds 6,514 shares of the company’s common stock. A total value of $274,000 is associated with these 6,514 shares (six thousand five hundred fourteen). Institutional investors and hedge funds collectively own 92.03% of the total number of shares in the company, making them the company’s largest stockholders.

The stock’s price currently trades at 39.54 dollars per share, and its simple moving average for the past 50 days is 44.52 dollars.

The company’s market capitalization is currently sitting at $1.60 billion, the price-to-earnings ratio is currently sitting at -6.62, and the beta value currently sits at 1.84.

Tuesday, November 8, was the day that Arvinas (NASDAQ: ARVN) presented its most recent quarterly earnings report to the investing community. The actual earnings per share generated by the company for the period came in at $1.24, which was $0.26 less than the consensus estimate of $0.98 per share. The revenue for the quarter came in at $30.30 million, a significant decrease from the $44.20 million that analysts had predicted it would be. Arvinas had a return on equity of 36.12%, and the company’s negative net margin was 225.34% of the company’s revenue. Arvinas, Inc. is expected to incur a loss of -4.81 cents on each share that is traded during the current fiscal year, as stated by the projections of market analysts.

Arvinas, Inc. is a biopharmaceutical company developing its products and is currently in the clinical stage. The company’s primary focuses are the research, development, and eventual commercialization of treatments that degrade proteins that are pathogenic to disease. ARV-471 is a protein degrader that belongs to the PROTAC family and specifically targets the estrogen receptor protein. Patients with advanced ER-positive or HER2-negative breast cancer who are candidates for this treatment have reached the metastatic stage of their disease. In the phase, I clinical trial, bavdegalutamide, a protein degrader that belongs to the PROTAC family, is being used to target the androgen receptor (AR) protein. ARV-766 is the name of the rapamycin under investigation. The company focuses on these three product candidates as its primary options.

Tags

Leave a comment

Your email address will not be published. Required fields are marked *