Arvinas, Inc. (NASDAQ:ARVN) Insider Sells $74,372.22 in Stock

Arvinas, Inc. (NASDAQ:ARVN) insider Noah Berkowitz sold 8,658 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now owns 110,023 shares of the company’s stock, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Arvinas Trading Up 3.3 %

ARVN opened at $8.70 on Thursday. The company has a market cap of $598.32 million, a price-to-earnings ratio of -3.14 and a beta of 1.95. The stock has a fifty day simple moving average of $16.65 and a two-hundred day simple moving average of $21.50. Arvinas, Inc. has a 12-month low of $7.91 and a 12-month high of $44.85.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the business posted ($2.53) earnings per share. On average, analysts predict that Arvinas, Inc. will post -3.81 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ARVN. Guggenheim decreased their price target on Arvinas from $57.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. BTIG Research started coverage on shares of Arvinas in a research report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price objective on the stock. Morgan Stanley lowered their price objective on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, Bank of America cut their target price on Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.47.

Hedge Funds Weigh In On Arvinas

A number of institutional investors and hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Arvinas in the 4th quarter worth approximately $42,332,000. Norges Bank bought a new stake in Arvinas in the fourth quarter worth $23,845,000. Boxer Capital Management LLC purchased a new stake in shares of Arvinas in the fourth quarter worth $20,294,000. Braidwell LP increased its holdings in shares of Arvinas by 148.3% during the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after acquiring an additional 767,242 shares in the last quarter. Finally, RTW Investments LP raised its position in shares of Arvinas by 19.8% in the 4th quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock worth $63,919,000 after purchasing an additional 551,979 shares during the last quarter. 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.