Price T Rowe Associates Inc. MD Boosts Stake in Arvinas, Inc. (NASDAQ:ARVN)

Price T Rowe Associates Inc. MD grew its stake in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,103,011 shares of the company's stock after buying an additional 249,295 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 5.97% of Arvinas worth $78,656,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ARVN. Affinity Asset Advisors LLC grew its position in Arvinas by 180.0% during the 4th quarter. Affinity Asset Advisors LLC now owns 630,000 shares of the company's stock worth $12,077,000 after acquiring an additional 405,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company's stock worth $57,371,000 after purchasing an additional 367,343 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Arvinas in the fourth quarter valued at approximately $1,534,000. Kennedy Capital Management LLC raised its holdings in Arvinas by 42.0% in the 4th quarter. Kennedy Capital Management LLC now owns 208,992 shares of the company's stock valued at $4,006,000 after buying an additional 61,802 shares during the last quarter. Finally, BIT Capital GmbH boosted its position in Arvinas by 291.7% during the 4th quarter. BIT Capital GmbH now owns 263,527 shares of the company's stock worth $5,052,000 after buying an additional 196,246 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arvinas

In related news, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the transaction, the insider now owns 159,121 shares of the company's stock, valued at $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Noah Berkowitz sold 8,658 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 50,230 shares of company stock valued at $769,402 over the last three months. Corporate insiders own 5.23% of the company's stock.

Arvinas Stock Performance

Arvinas stock traded up $0.49 during mid-day trading on Friday, reaching $7.72. The stock had a trading volume of 8,593,139 shares, compared to its average volume of 1,247,682. Arvinas, Inc. has a fifty-two week low of $5.94 and a fifty-two week high of $37.38. The stock's 50-day simple moving average is $9.66 and its 200-day simple moving average is $17.51. The firm has a market capitalization of $530.92 million, a PE ratio of -2.79 and a beta of 2.30.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BMO Capital Markets set a $20.00 price target on shares of Arvinas and gave the company an "outperform" rating in a research note on Wednesday, March 12th. Wells Fargo & Company cut their target price on Arvinas from $26.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday. Truist Financial decreased their price target on Arvinas from $65.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Guggenheim cut their price objective on Arvinas from $32.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Citigroup reduced their target price on Arvinas from $28.00 to $19.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Arvinas currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.82.

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.