2,208,234 Shares in Arvinas, Inc. (NASDAQ:ARVN) Purchased by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. acquired a new stake in Arvinas, Inc. (NASDAQ:ARVN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,208,234 shares of the company's stock, valued at approximately $42,332,000. T. Rowe Price Investment Management Inc. owned approximately 3.21% of Arvinas at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. KBC Group NV raised its stake in shares of Arvinas by 77.0% in the fourth quarter. KBC Group NV now owns 2,885 shares of the company's stock valued at $55,000 after acquiring an additional 1,255 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Arvinas during the fourth quarter worth approximately $171,000. Teacher Retirement System of Texas grew its position in shares of Arvinas by 19.0% during the fourth quarter. Teacher Retirement System of Texas now owns 14,295 shares of the company's stock worth $274,000 after buying an additional 2,280 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Arvinas by 10.4% during the fourth 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 last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Arvinas during the 4th quarter valued at about $332,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Trading Down 3.1 %

NASDAQ ARVN traded down $0.23 during trading hours on Friday, reaching $7.01. The company's stock had a trading volume of 2,944,019 shares, compared to its average volume of 1,223,541. Arvinas, Inc. has a 52 week low of $5.94 and a 52 week high of $37.38. The business has a 50-day simple moving average of $9.86 and a 200 day simple moving average of $17.63. The stock has a market cap of $481.75 million, a PE ratio of -2.55 and a beta of 2.30.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its 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 return on equity of 33.75% and a negative net margin of 75.51%. During the same period last year, the company posted ($0.97) earnings per share. The company's quarterly revenue was up 646.2% compared to the same quarter last year. As a group, equities analysts predict that Arvinas, Inc. will post -3.81 EPS for the current year.

Wall Street Analysts Forecast Growth

ARVN has been the topic of a number of research reports. Wells Fargo & Company set a $26.00 price target on shares of Arvinas and gave the stock an "overweight" rating in a research note on Wednesday, March 12th. TD Cowen lowered shares of Arvinas from a "buy" rating to a "hold" rating in a report on Friday. Oppenheimer cut Arvinas from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. Jefferies Financial Group reiterated a "hold" rating and set a $10.00 price objective (down previously from $52.00) on shares of Arvinas in a research note on Friday. Finally, 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. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.47.

Insiders Place Their Bets

In other news, insider Noah Berkowitz sold 8,658 shares of the 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 completion of the transaction, the insider now owns 110,023 shares of the company's stock, valued at approximately $945,097.57. This represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 value of $523,971.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,230 shares of company stock worth $769,402. Company insiders own 5.23% of the company's stock.

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.