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

Key Points

• Briggs Morrison, an Arvinas director, purchased 20,000 shares on March 6 at an average price of $13.40, spending $268,000 and boosting his holdings to 96,021 shares (a 26.31% increase), per an SEC filing.
• Arvinas posted a significant earnings miss with Q results showing EPS of ($1.10) vs. consensus ($0.55) and revenue of $9.5M vs. $37.26M, an 84% year-over-year revenue decline and negative margins.
• Analyst sentiment is mixed: the stock carries an average "Hold" rating and an average target price of $13.65, based on 10 Buys, 8 Holds and 2 Sells.

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) Director Briggs Morrison purchased 20,000 shares of the company's stock in a transaction dated Friday, March 6th. The stock was purchased at an average price of $13.40 per share, with a total value of $268,000.00. Following the completion of the purchase, the director directly owned 96,021 shares in the company, valued at $1,286,681.40. The trade was a 26.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Arvinas Price Performance

Shares of NASDAQ ARVN traded down $0.23 during mid-day trading on Monday, hitting $13.37. 589,709 shares of the stock traded hands, compared to its average volume of 813,438. The company has a market cap of $855.15 million, a PE ratio of -10.45 and a beta of 1.87. Arvinas, Inc. has a twelve month low of $5.90 and a twelve month high of $18.45. The firm has a 50 day simple moving average of $12.61 and a two-hundred day simple moving average of $10.87.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its earnings results on Tuesday, February 24th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.55). The firm had revenue of $9.50 million during the quarter, compared to the consensus estimate of $37.26 million. Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. Arvinas's revenue for the quarter was down 84.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.63) earnings per share. On average, equities research analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arvinas

Hedge funds have recently bought and sold shares of the company. Monaco Asset Management SAM boosted its position in 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 acquiring an additional 585,477 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Arvinas by 791.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company's stock valued at $10,498,000 after purchasing an additional 1,267,593 shares during the period. Campbell & CO Investment Adviser LLC lifted its stake in shares of Arvinas by 307.7% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 223,576 shares of the company's stock valued at $1,905,000 after purchasing an additional 168,744 shares during the period. Nordea Investment Management AB lifted its stake in shares of Arvinas by 28.7% in the 3rd quarter. Nordea Investment Management AB now owns 557,742 shares of the company's stock valued at $4,730,000 after purchasing an additional 124,254 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Arvinas during the 2nd quarter valued at about $390,000. Institutional investors own 95.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ARVN shares. Wall Street Zen cut shares of Arvinas from a "hold" rating to a "sell" rating in a research report on Monday, March 2nd. Wedbush boosted their price objective on shares of Arvinas from $9.00 to $11.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Stephens raised their target price on Arvinas from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Monday, November 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Arvinas in a research note on Monday, December 22nd. Finally, Piper Sandler reaffirmed 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. Ten 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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.

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