Arvinas (NASDAQ:ARVN) Issues Earnings Results

Arvinas (NASDAQ:ARVNGet Rating) released its quarterly earnings data on Thursday. The company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.28), Briefing.com reports. Arvinas had a negative return on equity of 30.11% and a negative net margin of 255.97%. The company had revenue of $31.30 million for the quarter, compared to the consensus estimate of $23.71 million. During the same period last year, the firm earned ($1.03) earnings per share. The company’s revenue for the quarter was up 469.1% compared to the same quarter last year.

Arvinas Price Performance

ARVN stock traded up $4.02 during midday trading on Friday, reaching $55.43. The company had a trading volume of 554,599 shares, compared to its average volume of 339,542. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -12.43 and a beta of 2.00. The stock has a 50 day moving average price of $46.12 and a 200-day moving average price of $56.79. Arvinas has a 1-year low of $34.90 and a 1-year high of $103.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in Arvinas by 22.6% during the first quarter. Wellington Management Group LLP now owns 776,569 shares of the company’s stock worth $52,263,000 after acquiring an additional 143,274 shares in the last quarter. UBS Group AG raised its stake in Arvinas by 44.2% during the first quarter. UBS Group AG now owns 413,027 shares of the company’s stock worth $27,797,000 after acquiring an additional 126,540 shares in the last quarter. Invesco Ltd. raised its stake in Arvinas by 13.0% during the first quarter. Invesco Ltd. now owns 614,598 shares of the company’s stock worth $41,362,000 after acquiring an additional 70,801 shares in the last quarter. State Street Corp raised its stake in Arvinas by 7.1% during the first quarter. State Street Corp now owns 1,021,370 shares of the company’s stock worth $68,738,000 after acquiring an additional 67,431 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Arvinas by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,023,581 shares of the company’s stock worth $270,786,000 after acquiring an additional 31,372 shares in the last quarter. Institutional investors and hedge funds own 84.52% of the company’s stock.

Analyst Upgrades and Downgrades

ARVN has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Arvinas from $116.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Jefferies Financial Group initiated coverage on shares of Arvinas in a research report on Tuesday, June 21st. They issued a “hold” rating and a $42.00 target price for the company. The Goldman Sachs Group reduced their target price on shares of Arvinas from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, May 24th. HC Wainwright reduced their target price on shares of Arvinas from $135.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Finally, Wedbush cut shares of Arvinas from an “outperform” rating to a “neutral” rating and set a $43.00 target price for the company. in a research report on Monday, May 9th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.67.

About Arvinas

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Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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Earnings History for Arvinas (NASDAQ:ARVN)

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