Insider Selling: Arvinas, Inc. (NASDAQ:ARVN) CAO Sells 1,214 Shares of Stock

Arvinas, Inc. (NASDAQ:ARVN) CAO David K. Loomis sold 1,214 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.75, for a total transaction of $20,334.50. Following the completion of the sale, the chief accounting officer now directly owns 18,863 shares of the company’s stock, valued at approximately $315,955.25. This trade represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arvinas Stock Up 5.5 %

ARVN opened at $17.67 on Wednesday. Arvinas, Inc. has a 52-week low of $16.07 and a 52-week high of $51.51. The company has a market cap of $1.21 billion, a P/E ratio of -6.38 and a beta of 1.88. The firm’s 50-day moving average price is $18.41 and its 200-day moving average price is $22.80.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the company earned ($2.53) EPS. On average, research analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. purchased a new position in shares of Arvinas during the 3rd quarter valued at approximately $3,442,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after acquiring an additional 440 shares during the period. abrdn plc raised its stake in shares of Arvinas by 27.8% in the 3rd quarter. abrdn plc now owns 78,585 shares of the company’s stock valued at $1,936,000 after acquiring an additional 17,093 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Arvinas by 64.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,203 shares of the company’s stock worth $325,000 after buying an additional 5,163 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Arvinas during the 3rd quarter worth approximately $350,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ARVN shares. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research note on Wednesday, December 11th. BTIG Research started coverage on shares of Arvinas in a research note on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $57.00 target price on shares of Arvinas in a report on Wednesday, February 12th. Oppenheimer boosted their target price on shares of Arvinas from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a report on Tuesday, February 11th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $60.00.

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.