Charles Schwab Investment Management Inc. Sells 46,873 Shares of Arvinas, Inc. $ARVN

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Arvinas, Inc. by 8.7%, owning 489,239 shares valued at approximately $3.43 million after selling 46,873 shares in the first quarter.
• Institutional interest is increasing, as several firms, including Vanguard Group Inc. and Federated Hermes Inc., significantly boosted their holdings in Arvinas during the same period.
• Arvinas reported a quarterly earnings per share of ($0.84), slightly beating analysts' expectations, but its revenue fell sharply by 70.7% year-over-year, indicating ongoing financial challenges.

Charles Schwab Investment Management Inc. reduced its stake in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 489,239 shares of the company's stock after selling 46,873 shares during the period. Charles Schwab Investment Management Inc. owned 0.67% of Arvinas worth $3,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ARVN. Invesco Ltd. increased its holdings in shares of Arvinas by 1.6% in the fourth quarter. Invesco Ltd. now owns 37,254 shares of the company's stock valued at $714,000 after purchasing an additional 581 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Arvinas by 28.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 843,430 shares of the company's stock valued at $16,168,000 after purchasing an additional 186,254 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Arvinas by 6.1% in the fourth quarter. MetLife Investment Management LLC now owns 39,437 shares of the company's stock valued at $756,000 after purchasing an additional 2,257 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Arvinas by 22.7% in the fourth quarter. Hsbc Holdings PLC now owns 19,220 shares of the company's stock valued at $365,000 after purchasing an additional 3,551 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Arvinas by 7.2% in the fourth quarter. Northern Trust Corp now owns 631,131 shares of the company's stock valued at $12,099,000 after purchasing an additional 42,638 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Price Performance

ARVN stock traded down $0.03 during mid-day trading on Monday, hitting $7.73. The stock had a trading volume of 735,457 shares, compared to its average volume of 1,894,077. Arvinas, Inc. has a 52 week low of $5.90 and a 52 week high of $29.61. The firm has a fifty day simple moving average of $7.49 and a 200 day simple moving average of $8.64.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.03. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. The firm had revenue of $22.40 million for the quarter, compared to analyst estimates of $34.42 million. During the same period last year, the firm earned ($0.49) EPS. The business's quarterly revenue was down 70.7% compared to the same quarter last year. On average, analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arvinas news, CFO Andrew Saik sold 5,700 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $7.61, for a total value of $43,377.00. Following the transaction, the chief financial officer directly owned 164,401 shares of the company's stock, valued at $1,251,091.61. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on ARVN shares. Leerink Partnrs downgraded shares of Arvinas from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Leerink Partners restated a "market perform" rating and issued a $9.00 price target (down from $10.00) on shares of Arvinas in a research note on Monday, June 2nd. HC Wainwright decreased their price target on shares of Arvinas from $24.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Wells Fargo & Company decreased their price target on shares of Arvinas from $19.00 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Guggenheim decreased their price target on shares of Arvinas from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Twelve analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $19.76.

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.