Arvinas (NASDAQ:ARVN) CEO Randy Teel Sells 2,209 Shares

Arvinas, Inc. (NASDAQ:ARVN) CEO Randy Teel sold 2,209 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $9.04, for a total transaction of $19,969.36. Following the transaction, the chief executive officer owned 285,009 shares of the company’s stock, valued at $2,576,481.36. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Randy Teel also recently made the following trade(s):

• On Monday, May 11th, Randy Teel sold 9,657 shares of Arvinas stock. The stock was sold at an average price of $9.94, for a total transaction of $95,990.58.
• On Monday, February 23rd, Randy Teel sold 4,786 shares of Arvinas stock. The stock was sold at an average price of $12.16, for a total transaction of $58,197.76.

Arvinas Stock Performance

NASDAQ:ARVN opened at $9.09 on Friday. The company has a fifty day moving average of $10.50 and a two-hundred day moving average of $11.64. The stock has a market capitalization of $586.49 million, a PE ratio of -2.74 and a beta of 1.79. Arvinas, Inc. has a fifty-two week low of $6.05 and a fifty-two week high of $14.51.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.05. The company had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $16.61 million. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The firm’s revenue for the quarter was down 91.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. Research analysts forecast that Arvinas, Inc. will post -2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $20.00 target price (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Truist Financial set a $10.00 target price on shares of Arvinas in a report on Wednesday, March 18th. Weiss Ratings lowered shares of Arvinas from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, BTIG Research upped their target price on shares of Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.69.

Hedge Funds Weigh In On Arvinas

Several hedge funds have recently added to or reduced their stakes in ARVN. AQR Capital Management LLC purchased a new position in Arvinas in the first quarter valued at approximately $727,000. Jacobs Levy Equity Management Inc. purchased a new position in Arvinas in the first quarter valued at approximately $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after purchasing an additional 2,122 shares during the last quarter. Millennium Management LLC increased its stake in Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after purchasing an additional 885,483 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Arvinas by 108.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company’s stock valued at $6,339,000 after purchasing an additional 469,394 shares during the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Company Profile

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.