Arvinas, Inc. (NASDAQ:ARVN) CFO Andrew Saik Sells 5,700 Shares

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) CFO Andrew Saik sold 5,700 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $7.61, for a total transaction of $43,377.00. Following the completion of the sale, the chief financial officer now owns 164,401 shares of the company's stock, valued at approximately $1,251,091.61. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Arvinas Price Performance

Shares of ARVN opened at $7.54 on Friday. The firm's 50 day moving average is $7.43 and its 200-day moving average is $12.32. Arvinas, Inc. has a 12-month low of $5.90 and a 12-month high of $34.11. The stock has a market capitalization of $550.34 million, a P/E ratio of -11.42 and a beta of 2.19.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of ($0.93) by $2.07. Arvinas had a negative net margin of 10.92% and a negative return on equity of 7.74%. The firm's revenue was up 646.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.97) earnings per share. As a group, equities research analysts forecast that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays dropped their price objective on Arvinas from $32.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. TD Cowen downgraded shares of Arvinas from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Morgan Stanley reduced their target price on shares of Arvinas from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Citigroup lowered their price target on Arvinas from $10.00 to $9.50 and set a "neutral" rating for the company in a report on Monday, May 5th. Finally, Wells Fargo & Company decreased their target price on Arvinas from $26.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.29.

Hedge Funds Weigh In On Arvinas

A number of hedge funds have recently modified their holdings of ARVN. Invesco Ltd. increased its stake in Arvinas by 1.6% in the 4th quarter. Invesco Ltd. now owns 37,254 shares of the company's stock worth $714,000 after purchasing an additional 581 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Arvinas by 0.9% in the fourth quarter. Rhumbline Advisers now owns 87,877 shares of the company's stock worth $1,685,000 after buying an additional 754 shares during the period. Bank of Montreal Can increased its position 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 acquiring 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 acquiring an additional 1,353 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Arvinas during the fourth quarter valued at approximately $28,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.