Arvinas (NASDAQ:ARVN) Director Briggs Morrison Acquires 20,000 Shares

Arvinas, Inc. (NASDAQ:ARVN) Director Briggs Morrison purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $13.40 per share, with a total value of $268,000.00. Following the transaction, the director owned 96,021 shares of the company’s stock, valued at $1,286,681.40. This represents a 26.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Arvinas Price Performance

Shares of ARVN stock opened at $13.37 on Tuesday. Arvinas, Inc. has a 1 year low of $5.90 and a 1 year high of $18.45. The stock’s 50 day simple moving average is $12.64 and its two-hundred day simple moving average is $10.92. The company has a market cap of $855.15 million, a PE ratio of -10.45 and a beta of 1.87.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, February 24th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.55). The company had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $37.26 million. Arvinas had a negative return on equity of 14.25% and a negative net margin of 30.77%.Arvinas’s revenue for the quarter was down 84.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.63) EPS. Equities research analysts expect that Arvinas, Inc. will post -3.81 EPS for the current year.

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently bought and sold shares of the business. Monaco Asset Management SAM lifted its position in shares of Arvinas by 185.6% during the second quarter. Monaco Asset Management SAM now owns 900,936 shares of the company’s stock valued at $6,631,000 after buying an additional 585,477 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Arvinas by 791.1% in the second quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock valued at $10,498,000 after acquiring an additional 1,267,593 shares in the last quarter. Nordea Investment Management AB grew its holdings in Arvinas by 28.7% in the third quarter. Nordea Investment Management AB now owns 557,742 shares of the company’s stock worth $4,730,000 after purchasing an additional 124,254 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its position in shares of Arvinas by 307.7% during the third quarter. Campbell & CO Investment Adviser LLC now owns 223,576 shares of the company’s stock worth $1,905,000 after purchasing an additional 168,744 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Arvinas in the 2nd quarter worth $390,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Arvinas in a report on Monday, December 22nd. Barclays lifted their price target on shares of Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Wedbush increased their price objective on shares of Arvinas from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Finally, Citigroup raised their price objective on shares of Arvinas from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.