Arvinas, Inc. $ARVN Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its position in shares of Arvinas, Inc. (NASDAQ:ARVN) by 8.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 8,561,232 shares of the company’s stock after selling 831,929 shares during the period. Vanguard Group Inc. owned approximately 0.12% of Arvinas worth $72,942,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ARVN. Tower Research Capital LLC TRC increased its stake in Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after purchasing an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after purchasing an additional 3,500 shares in the last quarter. State of Wyoming purchased a new stake in Arvinas during the third quarter worth $68,000. Virtus Investment Advisers LLC grew its holdings in Arvinas by 49.3% in the second quarter. Virtus Investment Advisers LLC now owns 12,422 shares of the company’s stock valued at $91,000 after purchasing an additional 4,104 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Arvinas in the third quarter valued at $128,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Insider Activity

In other Arvinas news, CFO Andrew Saik sold 5,134 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $11.89, for a total value of $61,043.26. Following the transaction, the chief financial officer directly owned 159,267 shares in the company, valued at approximately $1,893,684.63. This represents a 3.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John G. Houston sold 35,297 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $13.21, for a total transaction of $466,273.37. Following the sale, the director directly owned 1,122,183 shares in the company, valued at $14,824,037.43. This represents a 3.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 57,429 shares of company stock worth $731,014. Company insiders own 4.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ARVN shares. Wall Street Zen downgraded Arvinas from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective (up from $16.00) on shares of Arvinas in a research report on Wednesday, February 25th. Wedbush increased their price objective on shares of Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Barclays raised their target price on shares of Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Finally, Stephens lifted their target price on shares of Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.65.

Arvinas Stock Performance

Arvinas stock opened at $13.60 on Friday. Arvinas, Inc. has a fifty-two week low of $5.90 and a fifty-two week high of $18.76. The company has a market capitalization of $869.86 million, a price-to-earnings ratio of -10.62 and a beta of 1.87. The stock has a fifty day moving average of $12.61 and a two-hundred day moving average of $10.82.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.55). The company had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $37.26 million. Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The firm’s revenue was down 84.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.63) earnings per share. On average, analysts forecast that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

About Arvinas

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.