Vanguard Group Inc. Sells 1,331,629 Shares of Arvinas, Inc. $ARVN

Key Points

• Vanguard Group cut its Arvinas stake by 15.6% in the fourth quarter, selling 1.33 million shares and leaving it with about 11.26% of the company worth roughly $85.7 million.
• Arvinas received a boost from a global licensing deal with Rigel Pharmaceuticals for VEPPANU, which brings in $85 million upfront plus potential milestones and royalties worth up to $320 million more.
• The company’s latest quarter showed a smaller-than-expected loss per share, though revenue missed estimates; meanwhile, BTIG raised its price target to $18 and reiterated a buy rating.

Vanguard Group Inc. reduced its position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,229,603 shares of the company's stock after selling 1,331,629 shares during the quarter. Vanguard Group Inc. owned about 11.26% of Arvinas worth $85,743,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ARVN. Tower Research Capital LLC TRC increased its holdings in Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company's stock valued at $43,000 after buying an additional 4,835 shares during the period. Canada Pension Plan Investment Board grew its position in Arvinas by 109.4% in the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock valued at $49,000 after acquiring an additional 3,500 shares during the last quarter. State of Wyoming bought a new position in Arvinas in the third quarter valued at about $68,000. Aster Capital Management DIFC Ltd acquired a new position in Arvinas during the third quarter worth about $92,000. Finally, Jain Global LLC bought a new position in shares of Arvinas in the third quarter worth about $95,000. 95.19% of the stock is owned by institutional investors.

Key Arvinas News

Here are the key news stories impacting Arvinas this week:

• Positive Sentiment: Arvinas and Pfizer struck a global licensing agreement with Rigel Pharmaceuticals for exclusive rights to VEPPANU, bringing in $85 million upfront and transition payments, plus up to $320 million in additional milestones and royalties. That deal helps validate the asset and provides non-dilutive funding. Article Title
• Positive Sentiment: BTIG Research raised its price target on Arvinas to $18 from $16 and reiterated a buy rating, signaling improved analyst confidence after the latest news flow. Article Title
• Neutral Sentiment: Arvinas reported first-quarter results showing a smaller-than-expected loss per share, though revenue missed estimates. The report also highlighted pipeline progress, including FDA approval for VEPPANU, updated clinical data for ARV-102, and initiation of dosing for ARV-027. Article Title
• Neutral Sentiment: The CEO, CFO, CAO, and another insider sold shares, but the company said the transactions were tied to tax withholding obligations from vesting equity awards, which makes them less concerning than open-market selling. Article Title

Arvinas Trading Up 3.1%

ARVN opened at $9.87 on Thursday. The company's 50 day moving average is $11.14 and its 200-day moving average is $11.69. Arvinas, Inc. has a 1-year low of $5.90 and a 1-year high of $14.51. The company has a market cap of $636.81 million, a P/E ratio of -2.97 and a beta of 1.79.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.90) earnings per share for the quarter, beating analysts' consensus estimates of ($0.95) by $0.05. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The company had revenue of $15.60 million for the quarter, compared to the consensus estimate of $16.61 million. During the same period last year, the company posted $1.14 EPS. The firm's quarterly revenue was down 91.7% compared to the same quarter last year. On average, equities analysts forecast that Arvinas, Inc. will post -3.29 EPS for the current year.

Insider Buying and Selling at Arvinas

In related news, insider Noah Berkowitz sold 11,108 shares of Arvinas stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $110,413.52. Following the sale, the insider directly owned 191,395 shares in the company, valued at $1,902,466.30. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew Saik sold 11,139 shares of Arvinas stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $110,721.66. Following the sale, the chief financial officer owned 193,128 shares in the company, valued at approximately $1,919,692.32. This represents a 5.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 97,687 shares of company stock worth $1,138,643 over the last quarter. Insiders own 7.30% of the company's stock.

Wall Street Analysts Forecast Growth

ARVN has been the topic of a number of research analyst reports. Piper Sandler restated an "overweight" rating and issued a $20.00 price target (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Zacks Research downgraded shares of Arvinas from a "hold" rating to a "strong sell" rating in a research note on Monday, April 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Arvinas in a research note on Friday, April 10th. Truist Financial set a $10.00 price target on shares of Arvinas in a research note on Wednesday, March 18th. Finally, BTIG Research raised their price target on shares of Arvinas from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $15.14.

About Arvinas

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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