Arvinas, Inc. $ARVN Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Arvinas, acquiring 1,299,639 additional shares and holding approximately 11.46% of the company, worth $58.7 million as of the latest SEC filing.
• Analysts have adjusted their target prices for Arvinas, with Citigroup and TD Cowen lowering their ratings, while generally the stock holds a "Moderate Buy" average rating with a target of $19.76.
• Arvinas experienced a 70.7% decline in quarterly revenue year-over-year, reporting $22.4 million, significantly below analysts' expectations of $34.42 million.

Vanguard Group Inc. raised its position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 18.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,362,200 shares of the company's stock after purchasing an additional 1,299,639 shares during the quarter. Vanguard Group Inc. owned 11.46% of Arvinas worth $58,703,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Monaco Asset Management SAM raised its holdings in shares of Arvinas by 1,161.8% during the 1st quarter. Monaco Asset Management SAM now owns 315,459 shares of the company's stock valued at $2,215,000 after buying an additional 290,459 shares during the period. XTX Topco Ltd raised its holdings in shares of Arvinas by 194.2% during the 1st quarter. XTX Topco Ltd now owns 78,257 shares of the company's stock valued at $549,000 after buying an additional 51,658 shares during the period. Federated Hermes Inc. raised its holdings in shares of Arvinas by 1,965.0% during the 1st quarter. Federated Hermes Inc. now owns 980,674 shares of the company's stock valued at $6,884,000 after buying an additional 933,183 shares during the period. Corton Capital Inc. purchased a new stake in shares of Arvinas during the 1st quarter valued at about $124,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Arvinas by 60.2% during the 1st quarter. Victory Capital Management Inc. now owns 72,810 shares of the company's stock valued at $511,000 after buying an additional 27,360 shares during the period. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arvinas

In other news, CFO Andrew Saik sold 5,700 shares of the business's 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 sale, the chief financial officer directly owned 164,401 shares in the company, valued at approximately $1,251,091.61. The trade was 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 this hyperlink. Company insiders own 4.73% of the company's stock.

Arvinas Stock Performance

Shares of NASDAQ ARVN traded down $0.07 during trading on Friday, reaching $7.69. The stock had a trading volume of 71,039 shares, compared to its average volume of 2,136,541. Arvinas, Inc. has a one year low of $5.90 and a one year high of $29.61. The stock has a market cap of $564.60 million, a PE ratio of -7.62 and a beta of 2.22. The firm's 50 day moving average price is $7.48 and its two-hundred day moving average price is $8.91.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. HC Wainwright dropped their target price on Arvinas from $24.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. BTIG Research set a $16.00 target price on Arvinas and gave the company a "buy" rating in a report on Friday, May 2nd. Barclays lowered their price objective on Arvinas from $32.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. The Goldman Sachs Group lowered their price objective on Arvinas from $12.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Citigroup lowered their price objective on Arvinas from $10.00 to $9.50 and set a "neutral" rating for the company in a research note on Monday, May 5th. Twelve research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Arvinas presently has an average rating of "Moderate Buy" and a consensus target price of $19.76.

About Arvinas

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.