Franklin Resources Inc. reduced its position in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 63.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,506 shares of the company's stock after selling 43,684 shares during the quarter. Franklin Resources Inc.'s holdings in Arvinas were worth $489,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Arvinas during the 4th quarter worth about $23,845,000. JPMorgan Chase & Co. raised its stake in shares of Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company's stock valued at $57,371,000 after purchasing an additional 367,343 shares in the last quarter. BIT Capital GmbH lifted its position in Arvinas by 291.7% in the fourth quarter. BIT Capital GmbH now owns 263,527 shares of the company's stock worth $5,052,000 after purchasing an additional 196,246 shares during the period. Barclays PLC boosted its stake in Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company's stock worth $2,998,000 after buying an additional 80,984 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Arvinas in the 4th quarter valued at $1,534,000. 95.19% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ARVN has been the topic of several recent research reports. Barclays decreased their target price on shares of Arvinas from $48.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Guggenheim lowered their price objective on Arvinas from $57.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Cantor Fitzgerald restated an "overweight" rating on shares of Arvinas in a research report on Friday, February 7th. Citigroup lowered their price target on Arvinas from $28.00 to $19.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Finally, BMO Capital Markets set a $20.00 price objective on Arvinas and gave the company an "outperform" rating in a report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Arvinas currently has a consensus rating of "Moderate Buy" and an average price target of $34.33.
Check Out Our Latest Report on ARVN
Insider Activity at Arvinas
In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were 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 in the company, valued at $945,097.57. This trade represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John G. Houston sold 31,338 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the sale, the chief executive officer now owns 1,157,480 shares in the company, valued at $19,353,065.60. This represents a 2.64 % 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 quarter. 5.23% of the stock is owned by corporate insiders.
Arvinas Trading Up 12.4 %
Shares of NASDAQ:ARVN traded up $0.95 on Friday, hitting $8.60. The company had a trading volume of 3,186,900 shares, compared to its average volume of 1,120,815. Arvinas, Inc. has a 1-year low of $5.94 and a 1-year high of $37.38. The stock has a market cap of $591.44 million, a price-to-earnings ratio of -3.10 and a beta of 2.30. The stock has a 50 day moving average price of $11.49 and a 200 day moving average price of $18.56.
Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter in the previous year, the firm earned ($2.53) earnings per share. Sell-side analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.
Arvinas Company Profile
(
Free Report)
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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