Renaissance Technologies LLC Sells 75,500 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Renaissance Technologies LLC decreased its holdings in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 52.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,900 shares of the company's stock after selling 75,500 shares during the period. Renaissance Technologies LLC owned 0.10% of Arvinas worth $1,321,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ARVN. KBC Group NV grew its stake in 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 buying an additional 1,255 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Arvinas in the fourth quarter valued at $171,000. Teacher Retirement System of Texas raised its stake in shares of Arvinas by 19.0% during 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 holdings in Arvinas by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,570 shares of the company's stock worth $279,000 after purchasing an additional 1,367 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Arvinas by 12.5% in the 4th quarter. LPL Financial LLC now owns 18,669 shares of the company's stock worth $358,000 after purchasing an additional 2,077 shares during the period. Institutional investors own 95.19% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ARVN shares. BMO Capital Markets set a $20.00 price target on shares of Arvinas and gave the stock an "outperform" rating in a report on Wednesday, March 12th. Citigroup lowered their target price on shares of Arvinas from $28.00 to $19.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Oppenheimer lowered shares of Arvinas from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Bank of America lowered their price objective on Arvinas from $54.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Finally, Truist Financial reduced their target price on Arvinas from $65.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Arvinas has a consensus rating of "Moderate Buy" and an average target price of $25.82.

Insider Activity at Arvinas

In other Arvinas news, insider Ian Taylor sold 9,020 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the sale, the insider now owns 159,121 shares of the company's stock, valued at $2,658,911.91. This represents a 5.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John G. Houston sold 31,338 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.72, for a total transaction of $523,971.36. Following the completion of the transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at $19,353,065.60. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,230 shares of company stock worth $769,402 in the last ninety days. 5.23% of the stock is owned by company insiders.

Arvinas Trading Up 6.8 %

Shares of ARVN traded up $0.49 during mid-day trading on Friday, reaching $7.72. The company's stock had a trading volume of 8,593,139 shares, compared to its average volume of 1,251,025. Arvinas, Inc. has a 52 week low of $5.94 and a 52 week high of $37.38. The stock has a market cap of $563.49 million, a PE ratio of -2.79 and a beta of 2.21. The company's fifty day moving average price is $9.66 and its two-hundred day moving average price is $17.44.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, topping 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 firm earned ($0.97) earnings per share. Arvinas's revenue was up 646.2% on a year-over-year basis. Research analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current year.

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.