Noah Berkowitz Sells 8,658 Shares of Arvinas, Inc. (NASDAQ:ARVN) Stock

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) insider Noah Berkowitz sold 8,658 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Arvinas Price Performance

Arvinas stock traded down $0.25 during mid-day trading on Friday, hitting $8.75. The company's stock had a trading volume of 3,239,080 shares, compared to its average volume of 939,673. The firm's 50 day moving average is $16.24 and its 200 day moving average is $21.23. The company has a market cap of $601.76 million, a PE ratio of -3.16 and a beta of 1.95. Arvinas, Inc. has a 52-week low of $7.91 and a 52-week high of $42.26.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the company posted ($2.53) earnings per share. As a group, analysts forecast that Arvinas, Inc. will post -3.81 EPS for the current year.

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Institutional Investors Weigh In On Arvinas

Several hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. acquired a new position in Arvinas in the 4th quarter worth about $42,332,000. Norges Bank acquired a new position in Arvinas in the 4th quarter worth about $23,845,000. Boxer Capital Management LLC acquired a new position in Arvinas in the 4th quarter worth about $20,294,000. Braidwell LP increased its position in Arvinas by 148.3% in the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company's stock worth $31,637,000 after purchasing an additional 767,242 shares during the last quarter. Finally, RTW Investments LP increased its position in Arvinas by 19.8% in the 4th quarter. RTW Investments LP now owns 3,334,308 shares of the company's stock worth $63,919,000 after purchasing an additional 551,979 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARVN. HC Wainwright reiterated a "buy" rating and set a $81.00 price target on shares of Arvinas in a research report on Tuesday, March 11th. Bank of America dropped their price target on shares of Arvinas from $54.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Stifel Nicolaus reduced their price objective on shares of Arvinas from $63.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Wedbush downgraded shares of Arvinas from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $57.00 to $12.00 in a report on Wednesday, March 12th. Finally, Oppenheimer lowered shares of Arvinas from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.47.

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.