Noah Berkowitz Sells 11,108 Shares of Arvinas (NASDAQ:ARVN) Stock

Arvinas, Inc. (NASDAQ:ARVN) insider Noah Berkowitz sold 11,108 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $110,413.52. Following the transaction, the insider owned 191,395 shares in the company, valued at approximately $1,902,466.30. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Noah Berkowitz also recently made the following trade(s):

• On Wednesday, March 18th, Noah Berkowitz sold 6,435 shares of Arvinas stock. The stock was sold at an average price of $11.10, for a total transaction of $71,428.50.
• On Friday, February 13th, Noah Berkowitz sold 5,685 shares of Arvinas stock. The stock was sold at an average price of $11.89, for a total transaction of $67,594.65.

Arvinas Price Performance

Shares of Arvinas stock opened at $9.42 on Friday. Arvinas, Inc. has a 1 year low of $5.90 and a 1 year high of $14.51. The firm’s 50-day moving average is $11.06 and its two-hundred day moving average is $11.69. The stock has a market cap of $607.78 million, a price-to-earnings ratio of -2.84 and a beta of 1.79.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.90) EPS 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 net margin of 247.54% and a negative return on equity of 44.38%. The company’s quarterly revenue was down 91.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, equities analysts expect that Arvinas, Inc. will post -3.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on ARVN shares. Wedbush increased their price target on shares of Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Wall Street Zen lowered shares of Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Barclays increased their price target on shares of Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup increased their price target on shares of Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, BTIG Research increased their price target on shares of Arvinas from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Arvinas currently has a consensus rating of “Hold” and an average target price of $14.69.

Key Headlines Impacting Arvinas

Here are the key news stories impacting Arvinas this week:

• Positive Sentiment: BTIG Research raised Arvinas’ price target to $18 and kept a Buy rating, reinforcing a bullish view on the stock’s longer-term potential. Arvinas (NASDAQ:ARVN) Price Target Raised to $18.00 at BTIG Research
• Positive Sentiment: The licensing deal for vepdegestrant could bring in substantial upfront and milestone payments, highlighting continued interest in Arvinas’ oncology pipeline. Rigel strikes licensing deal for Pfizer and Arvinas’ breast cancer drug
• Neutral Sentiment: Arvinas’ quarterly loss came in slightly better than expected, but revenue missed estimates and fell sharply year over year, showing the company remains far from profitability. Arvinas, Inc. (ARVN) Reports Q1 Loss, Misses Revenue Estimates
• Negative Sentiment: Recent insider sales by the CEO, CFO, CAO, and another executive may weigh on sentiment, even though the transactions were reportedly related to tax withholding on vested awards. CEO insider filing

Hedge Funds Weigh In On Arvinas

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in shares of Arvinas by 876.1% in the 1st 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 during the last quarter. Sei Investments Co. raised its position in shares of Arvinas by 160.7% in the 1st quarter. Sei Investments Co. now owns 78,587 shares of the company’s stock valued at $833,000 after purchasing an additional 48,444 shares during the last quarter. Globeflex Capital L P raised its position in shares of Arvinas by 433.2% in the 1st quarter. Globeflex Capital L P now owns 59,331 shares of the company’s stock valued at $629,000 after purchasing an additional 48,203 shares during the last quarter. Quantedge Capital Pte Ltd purchased a new position in shares of Arvinas in the 1st quarter valued at approximately $165,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Arvinas by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 485,764 shares of the company’s stock valued at $5,147,000 after purchasing an additional 13,344 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

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.