Bank of America Corp DE Has $2.47 Million Stock Position in Arvinas, Inc. (NASDAQ:ARVN)

Bank of America Corp DE reduced its position in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 73.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,755 shares of the company's stock after selling 350,298 shares during the quarter. Bank of America Corp DE owned about 0.19% of Arvinas worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC grew its position in shares of Arvinas by 180.0% during the 4th quarter. Affinity Asset Advisors LLC now owns 630,000 shares of the company's stock worth $12,077,000 after buying an additional 405,000 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Arvinas during the 4th quarter worth about $1,534,000. Kennedy Capital Management LLC grew its position in shares of Arvinas by 42.0% during the 4th quarter. Kennedy Capital Management LLC now owns 208,992 shares of the company's stock worth $4,006,000 after buying an additional 61,802 shares during the period. BIT Capital GmbH grew its position in shares of Arvinas by 291.7% during the 4th quarter. BIT Capital GmbH now owns 263,527 shares of the company's stock worth $5,052,000 after buying an additional 196,246 shares during the period. Finally, Northern Trust Corp grew its position in shares of Arvinas by 7.2% during the 4th quarter. Northern Trust Corp now owns 631,131 shares of the company's stock worth $12,099,000 after buying an additional 42,638 shares during the period. 95.19% of the stock is owned by institutional investors.

Arvinas Price Performance

NASDAQ ARVN traded down $0.03 on Thursday, reaching $6.92. The stock had a trading volume of 1,989,814 shares, compared to its average volume of 1,385,943. The firm has a fifty day moving average of $7.27 and a two-hundred day moving average of $14.24. Arvinas, Inc. has a 1-year low of $5.90 and a 1-year high of $34.11. The company has a market cap of $505.10 million, a P/E ratio of -2.50 and a beta of 2.21.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period last year, the business posted ($0.97) EPS. The company's revenue was up 646.2% on a year-over-year basis. Research analysts predict that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the transaction, the insider now directly owns 110,023 shares of the company's stock, valued at $945,097.57. This represents a 7.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.73% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased their target price on Arvinas from $12.00 to $11.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arvinas in a research report on Friday, February 7th. The Goldman Sachs Group decreased their price objective on Arvinas from $12.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Bank of America decreased their price objective on Arvinas from $54.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Finally, Leerink Partnrs lowered Arvinas from a "strong-buy" rating to a "hold" rating in a research report on Sunday. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Arvinas currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.29.

Arvinas Company 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.