Northern Trust Corp Purchases 42,638 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Northern Trust Corp boosted its stake in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,131 shares of the company's stock after buying an additional 42,638 shares during the quarter. Northern Trust Corp owned approximately 0.92% of Arvinas worth $12,099,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company's stock valued at $55,000 after purchasing an additional 1,255 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Arvinas in the 4th quarter valued at $171,000. Teacher Retirement System of Texas lifted its stake in shares of Arvinas by 19.0% in the 4th quarter. Teacher Retirement System of Texas now owns 14,295 shares of the company's stock valued at $274,000 after purchasing an additional 2,280 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Arvinas by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,570 shares of the company's stock valued at $279,000 after purchasing an additional 1,367 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Arvinas during the fourth quarter worth $332,000. Institutional investors own 95.19% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARVN. BTIG Research set a $16.00 price target on shares of Arvinas and gave the stock a "buy" rating in a research note on Friday, May 2nd. Truist Financial reiterated a "hold" rating and issued a $11.00 price target (down previously from $21.00) on shares of Arvinas in a research note on Monday, May 5th. Oppenheimer lowered Arvinas from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. HC Wainwright decreased their price objective on shares of Arvinas from $81.00 to $24.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Bank of America decreased their target price on shares of Arvinas from $54.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.92.

Arvinas Price Performance

Shares of ARVN opened at $6.49 on Friday. The stock has a market cap of $473.71 million, a price-to-earnings ratio of -2.34 and a beta of 2.21. Arvinas, Inc. has a 1-year low of $5.90 and a 1-year high of $37.38. The firm has a 50 day simple moving average of $7.69 and a 200-day simple moving average of $16.11.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. The business's revenue for the quarter was up 646.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.97) EPS. On average, equities analysts expect that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Activity at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the transaction, the insider now owns 110,023 shares of the company's stock, valued at $945,097.57. This trade represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the sale, the chief executive officer now directly owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This trade represents a 2.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,230 shares of company stock worth $769,402. 4.73% of the stock is currently owned by corporate insiders.

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.

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