Federated Hermes Inc. Purchases 933,183 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Key Points

• Federated Hermes Inc. significantly increased its holdings in Arvinas, Inc. by 1,965.0%, owning 980,674 shares worth approximately $6.88 million after acquiring an additional 933,183 shares in Q1.
• Institutional investors comprise a substantial 95.19% of Arvinas' stock ownership, with major firms like Vanguard Group and Price T Rowe Associates also increasing their stakes recently.
• Analysts have downgraded Arvinas' price targets, with firms like Truist Financial and Barclays reducing their targets significantly, indicating a more cautious outlook on the stock's performance.

Federated Hermes Inc. increased its stake in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 1,965.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 980,674 shares of the company's stock after buying an additional 933,183 shares during the quarter. Federated Hermes Inc. owned 1.34% of Arvinas worth $6,884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARVN. Invesco Ltd. lifted 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 worth $714,000 after buying an additional 581 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Arvinas by 2.7% in the fourth quarter. Bank of Montreal Can now owns 39,407 shares of the company's stock worth $755,000 after buying an additional 1,044 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Arvinas by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,514 shares of the company's stock worth $700,000 after purchasing an additional 1,353 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Arvinas in the fourth quarter worth approximately $28,000. Finally, LPL Financial LLC increased its position in shares of Arvinas by 12.5% in the fourth quarter. LPL Financial LLC now owns 18,669 shares of the company's stock worth $358,000 after purchasing an additional 2,077 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on ARVN shares. Truist Financial reiterated a "hold" rating and set a $11.00 price target (down from $21.00) on shares of Arvinas in a research report on Monday, May 5th. Leerink Partners reissued a "market perform" rating and set a $9.00 price objective (down from $10.00) on shares of Arvinas in a research report on Monday, June 2nd. Guggenheim cut their price objective on shares of Arvinas from $32.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. UBS Group cut their price objective on shares of Arvinas from $74.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Finally, BTIG Research set a $16.00 price objective on shares of Arvinas and gave the company a "buy" rating in a research report on Friday, May 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Arvinas has a consensus rating of "Moderate Buy" and an average price target of $20.29.

Arvinas Stock Down 16.5%

Shares of ARVN traded down $1.26 during trading hours on Wednesday, reaching $6.35. 3,469,648 shares of the company traded hands, compared to its average volume of 2,174,546. The stock has a market capitalization of $463.78 million, a PE ratio of -9.64 and a beta of 2.22. Arvinas, Inc. has a fifty-two week low of $5.90 and a fifty-two week high of $29.61. The stock has a fifty day simple moving average of $7.59 and a 200 day simple moving average of $10.16.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, beating analysts' consensus estimates of ($0.87) by $0.03. Arvinas had a negative return on equity of 7.74% and a negative net margin of 10.92%. The company's quarterly revenue was down 70.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.49) EPS. Research analysts predict that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

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.