Citigroup Lowers Price Target for Arvinas Stock

Citigroup has issued a warning regarding the future of Arvinas (NASDAQ:ARVN) by cutting their target price from $28.00 to $19.00. This change was made in a research report published on Friday, which also classified the stock with a "neutral" rating. The new price target indicates a potential upside of about 3.94% from the stock's current market price.

In similar news, other financial analysts have recently shared their views on Arvinas. For example, Wedbush maintained an "outperform" rating and offered a more optimistic price target of $57.00 on February 11th. Stephens began coverage of the stock on November 18th, assigning it an "overweight" rating with a price target of $55.00. Furthermore, HC Wainwright reiterated a "buy" rating with a more ambitious price objective of $87.00 on December 11th. Cantor Fitzgerald also sustained an "overweight" rating in a report on February 7th. Meanwhile, BTIG Research initiated their coverage on December 10th, giving a "buy" rating accompanied by a price target of $69.00.

It is noteworthy that while one analyst rated the stock as a hold, twelve others have issued buy ratings. Data from MarketBeat shows that Arvinas currently holds an average rating of "Moderate Buy" with a consensus price target of $56.58.

Arvinas Stock Overview

On Friday, shares of Arvinas rose by $0.22 to reach $18.28, accompanied by a trading volume of 1,922,920 shares, significantly higher than the average volume of 1,073,999 shares. Over the past year, Arvinas has experienced a low of $15.53 and a high of $49.76. It has a market capitalization of $1.26 billion, a negative price-to-earnings ratio of -6.60, and a beta of 1.95. The stock's 50-day moving average stands at $18.23, while the 200-day moving average is reported at $22.47.

In its latest quarterly earnings report released on February 11th, Arvinas reported an earnings per share (EPS) of -$0.63, exceeding analysts' expectations of -$1.07 by $0.44. The company recorded a negative net margin of 75.51% and a negative return on equity of 33.75%. Comparatively, the same period in the previous year saw an EPS of -$2.53. Analysts project that Arvinas will have an EPS of -3.81 for the current fiscal year.

Insider Transactions

Recent transactions by company insiders were also significant. On February 24th, insider Ian Taylor sold 9,020 shares at an average price of $16.71, totaling approximately $150,724.20. Following this sale, Taylor now holds 159,121 shares valued at around $2,658,911.91, marking a 5.36% decrease in his position. Additionally, CEO John G. Houston sold 31,338 shares at an average price of $16.72, amounting to approximately $523,971.36. Post-transaction, Houston's total holdings comprise 1,157,480 shares worth about $19,353,065.60, representing a 2.64% decrease in his ownership. In total, insiders have offloaded 41,572 shares valued at $695,030 over the past 90 days, with insiders holding 5.23% of Arvinas stock.

Institutional Investor Activity

On the institutional investing side, significant activity has been noted. T. Rowe Price Investment Management took a new stake in Arvinas valued at approximately $42,332,000 during the fourth quarter. Similarly, Norges Bank acquired a new position worth $23,845,000, while Boxer Capital Management LLC purchased shares valued at about $20,294,000 in the same timeframe. Additionally, Braidwell LP increased its holdings by 148.3%, accumulating 1,284,472 shares worth $31,637,000. RTW Investments LP also lifted its stake by 19.8%, now owning 3,334,308 shares valued at $63,919,000. In total, institutional investors control 95.19% of Arvinas stock.

About Arvinas

Arvinas, Inc. is a clinical-stage biotechnology firm focused on discovering, developing, and commercializing therapies that aim to degrade disease-causing proteins. The company specializes in engineering proteolysis targeting chimeras (PROTACs) designed to utilize the body's natural systems for protein disposal to eliminate harmful proteins.

Citigroup, Arvinas, Stock