Federated Hermes Inc. Sells 86,719 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Federated Hermes Inc. lowered its holdings in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 64.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,491 shares of the company's stock after selling 86,719 shares during the period. Federated Hermes Inc. owned about 0.07% of Arvinas worth $910,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ARVN. JPMorgan Chase & Co. grew its holdings in Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company's stock valued at $57,371,000 after purchasing an additional 367,343 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Arvinas in the 4th quarter worth about $1,534,000. BIT Capital GmbH raised its stake in Arvinas by 291.7% in the 4th quarter. BIT Capital GmbH now owns 263,527 shares of the company's stock valued at $5,052,000 after acquiring an additional 196,246 shares during the period. Norges Bank purchased a new stake in Arvinas during the fourth quarter valued at about $23,845,000. Finally, SG Americas Securities LLC increased its stake in shares of Arvinas by 228.8% in the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company's stock worth $622,000 after purchasing an additional 22,564 shares in the last quarter. Institutional investors own 95.19% of the company's stock.

Arvinas Trading Up 1.7 %

ARVN stock traded up $0.15 during midday trading on Monday, hitting $8.75. The company had a trading volume of 3,017,094 shares, compared to its average volume of 1,128,403. Arvinas, Inc. has a 52 week low of $5.94 and a 52 week high of $37.38. The stock has a market cap of $601.76 million, a price-to-earnings ratio of -3.16 and a beta of 2.30. The stock's 50 day moving average price is $11.31 and its 200 day moving average price is $18.45.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the firm posted ($2.53) EPS. Analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Insider Buying and Selling at Arvinas

In other news, CEO John G. Houston sold 31,338 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares of the company's stock, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Noah Berkowitz sold 8,658 shares of Arvinas stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now directly owns 110,023 shares in the company, valued at $945,097.57. The trade was a 7.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,230 shares of company stock valued at $769,402 in the last 90 days. Insiders own 5.23% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ARVN shares. The Goldman Sachs Group reduced their price objective on shares of Arvinas from $15.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday. Oppenheimer downgraded Arvinas from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. Bank of America lowered their price target on shares of Arvinas from $54.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Citigroup lowered their target price on shares of Arvinas from $28.00 to $19.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Finally, Wedbush downgraded Arvinas from an "outperform" rating to a "neutral" rating and lowered their price objective for the stock from $57.00 to $12.00 in a research report on Wednesday, March 12th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.33.

Arvinas Profile

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body's own natural protein disposal system to degrade and remove disease-causing proteins.