Arvinas (NASDAQ:ARVN) CFO Andrew Saik Sells 5,696 Shares

Arvinas, Inc. (NASDAQ:ARVN) CFO Andrew Saik sold 5,696 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total transaction of $46,479.36. Following the sale, the chief financial officer owned 187,432 shares in the company, valued at approximately $1,529,445.12. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Saik also recently made the following trade(s):

• On Monday, May 11th, Andrew Saik sold 11,139 shares of Arvinas stock. The stock was sold at an average price of $9.94, for a total transaction of $110,721.66.

Arvinas Price Performance

NASDAQ ARVN traded down $0.09 during trading hours on Wednesday, reaching $8.05. 677,115 shares of the stock traded hands, compared to its average volume of 843,422. The stock has a 50 day simple moving average of $9.10 and a two-hundred day simple moving average of $11.13. Arvinas, Inc. has a 1 year low of $6.05 and a 1 year high of $14.51. The company has a market cap of $519.39 million, a price-to-earnings ratio of -2.42 and a beta of 1.74.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.05. The firm had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $16.61 million. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The company’s revenue for the quarter was down 91.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. On average, sell-side analysts forecast that Arvinas, Inc. will post -2.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

A number of large investors have recently made changes to their positions in ARVN. Quantinno Capital Management LP grew its stake in shares of Arvinas by 12.5% in the first quarter. Quantinno Capital Management LP now owns 74,540 shares of the company’s stock worth $790,000 after acquiring an additional 8,295 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Arvinas in the first quarter worth about $385,000. Public Employees Retirement System of Ohio lifted its holdings in Arvinas by 876.1% during the first quarter. Public Employees Retirement System of Ohio now owns 97,611 shares of the company’s stock valued at $1,035,000 after purchasing an additional 87,611 shares in the last quarter. Sei Investments Co. increased its stake in Arvinas by 160.7% in the 1st quarter. Sei Investments Co. now owns 78,587 shares of the company’s stock worth $833,000 after buying an additional 48,444 shares in the last quarter. Finally, Globeflex Capital L P lifted its holdings in Arvinas by 433.2% in the 1st quarter. Globeflex Capital L P now owns 59,331 shares of the company’s stock worth $629,000 after purchasing an additional 48,203 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on ARVN shares. Barclays increased their target price on shares of Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Truist Financial set a $10.00 price target on shares of Arvinas in a research report on Wednesday, March 18th. Weiss Ratings upgraded Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Wedbush increased their target price on Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.42.

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.