Arvinas (NASDAQ:ARVN) Shares Gap Down – Should You Sell?

Arvinas, Inc. (NASDAQ:ARVN) shares 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 traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ARVN shares. BMO Capital Markets reduced their target price on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research report on Thursday, October 31st. Oppenheimer dropped their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Stephens assumed coverage on Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Arvinas presently has an average rating of “Moderate Buy” and an average target price of $61.08.

Arvinas Stock Performance

The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -5.72 and a beta of 1.96. The company has a fifty day simple moving average of $25.68 and a 200 day simple moving average of $26.70.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. During the same period in the prior year, the firm earned ($1.18) earnings per share. The firm’s revenue for the quarter was up 196.0% compared to the same quarter last year. As a group, equities analysts predict that Arvinas, Inc. will post -3.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently bought and sold shares of ARVN. Janus Henderson Group PLC lifted its stake in Arvinas by 55.1% in the first quarter. Janus Henderson Group PLC now owns 32,429 shares of the company’s stock valued at $1,337,000 after purchasing an additional 11,520 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Arvinas by 17.5% during the first quarter. California State Teachers Retirement System now owns 57,059 shares of the company’s stock worth $2,355,000 after acquiring an additional 8,497 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Arvinas during the second quarter worth $185,000. SG Americas Securities LLC lifted its position in shares of Arvinas by 137.2% during the second quarter. SG Americas Securities LLC now owns 86,096 shares of the company’s stock worth $2,292,000 after acquiring an additional 49,799 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Arvinas by 6.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 65,907 shares of the company’s stock worth $1,754,000 after acquiring an additional 4,045 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.