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

Arvinas, Inc. (NASDAQ:ARVN) CFO Andrew Saik sold 5,696 shares of Arvinas stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total transaction of $46,479.36. Following the completion of the sale, the chief financial officer directly owned 187,432 shares in the company, valued at approximately $1,529,445.12. This represents a 2.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $9.94, for a total transaction of $110,721.66.

Arvinas Trading Down 1.1%

Shares of ARVN stock traded down $0.09 during trading hours on Wednesday, hitting $8.05. 677,115 shares of the company were exchanged, compared to its average volume of 843,422. The stock has a market capitalization of $519.39 million, a price-to-earnings ratio of -2.42 and a beta of 1.74. The firm has a fifty day simple moving average of $9.10 and a 200 day simple moving average of $11.13. Arvinas, Inc. has a 52-week low of $6.05 and a 52-week high of $14.51.

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

Analyst Upgrades and Downgrades

ARVN has been the topic of several research reports. Truist Financial set a $10.00 price target on shares of Arvinas in a research report on Wednesday, March 18th. Wall Street Zen lowered Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Piper Sandler reiterated an “overweight” rating and set a $20.00 price objective (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Barclays raised their target price on Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.42.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ARVN. Hussman Strategic Advisors Inc. bought a new position in Arvinas in the 4th quarter worth about $1,245,000. JPMorgan Chase & Co. boosted its position in shares of Arvinas by 475.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 214,779 shares of the company’s stock valued at $1,830,000 after acquiring an additional 177,460 shares during the last quarter. Brummer Multi Strategy AB bought a new stake in shares of Arvinas during the 4th quarter valued at about $1,973,000. Arbiter Partners Capital Management LLC purchased a new position in shares of Arvinas during the third quarter worth about $3,858,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Arvinas by 371.0% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 70,650 shares of the company’s stock worth $838,000 after purchasing an additional 55,650 shares during the last quarter. Institutional investors own 95.19% of the company’s stock.

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.