Vanguard Group Inc. Trims Position in Arvinas, Inc. $ARVN

Vanguard Group Inc. decreased its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,561,232 shares of the company’s stock after selling 831,929 shares during the period. Vanguard Group Inc. owned approximately 11.66% of Arvinas worth $72,942,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new position in Arvinas in the 1st quarter valued at about $727,000. Jacobs Levy Equity Management Inc. acquired a new stake in Arvinas during the 1st quarter worth approximately $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Arvinas by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock worth $271,000 after acquiring an additional 2,122 shares during the period. Millennium Management LLC grew its stake in shares of Arvinas by 208.4% in the 1st 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 grew its stake in shares of Arvinas by 108.3% in the 1st 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. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Price Performance

ARVN opened at $13.60 on Friday. Arvinas, Inc. has a 12 month low of $5.90 and a 12 month high of $18.76. The stock has a market capitalization of $869.86 million, a P/E ratio of -10.62 and a beta of 1.87. The business has a 50 day simple moving average of $12.61 and a 200-day simple moving average of $10.82.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.55). The business had revenue of $9.50 million for the quarter, compared to analyst estimates of $37.26 million. Arvinas had a negative return on equity of 14.25% and a negative net margin of 30.77%.The company’s revenue was down 84.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.63) EPS. Research analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current year.

Insider Activity at Arvinas

In other news, insider Noah Berkowitz sold 5,685 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $11.89, for a total value of $67,594.65. Following the completion of the transaction, the insider owned 163,938 shares in the company, valued at $1,949,222.82. This trade represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John G. Houston sold 35,297 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.21, for a total transaction of $466,273.37. Following the completion of the sale, the director owned 1,122,183 shares of the company’s stock, valued at $14,824,037.43. This trade represents a 3.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,429 shares of company stock valued at $731,014 over the last 90 days. Company insiders own 4.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ARVN shares. Barclays upped their price target on Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Piper Sandler reissued an “overweight” rating and issued a $20.00 price objective (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Stephens upped their price objective 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. Finally, Citigroup raised their target price on shares of Arvinas from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Arvinas presently has a consensus rating of “Hold” and an average price target of $13.65.

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.