JPMorgan Chase & Co. Sells 472,225 Shares of Arvinas, Inc. (NASDAQ:ARVN)

JPMorgan Chase & Co. lowered its position in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 20.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,857,078 shares of the company's stock after selling 472,225 shares during the period. JPMorgan Chase & Co. owned 2.70% of Arvinas worth $35,600,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ARVN. Wellington Management Group LLP boosted its holdings in Arvinas by 23.9% in the 3rd quarter. Wellington Management Group LLP now owns 32,789 shares of the company's stock valued at $808,000 after purchasing an additional 6,330 shares during the period. Zacks Investment Management raised its position in shares of Arvinas by 9.8% in the third quarter. Zacks Investment Management now owns 89,827 shares of the company's stock worth $2,212,000 after buying an additional 8,029 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Arvinas in the third quarter worth $453,000. Nomura Asset Management Co. Ltd. boosted its stake in Arvinas by 36.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company's stock valued at $2,238,000 after buying an additional 24,223 shares during the period. Finally, Barclays PLC grew its position 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. Hedge funds and other institutional investors own 95.19% of the company's stock.

Arvinas Price Performance

NASDAQ:ARVN traded up $0.33 during trading hours on Friday, hitting $6.95. The company had a trading volume of 2,851,035 shares, compared to its average volume of 1,085,943. Arvinas, Inc. has a 52 week low of $5.94 and a 52 week high of $38.56. The company has a market capitalization of $477.97 million, a PE ratio of -2.51 and a beta of 2.30. The stock has a 50-day moving average price of $12.58 and a 200 day moving average price of $19.18.

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Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter in the previous year, the company earned ($2.53) EPS. Analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on ARVN shares. Bank of America lowered their price target on Arvinas from $54.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arvinas in a research note on Friday, February 7th. Wells Fargo & Company set a $26.00 target price on shares of Arvinas and gave the company an "overweight" rating in a research report on Wednesday, March 12th. Barclays decreased their price target on shares of Arvinas from $48.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, Wedbush downgraded shares of Arvinas from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $57.00 to $12.00 in a report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $34.53.

Insiders Place Their Bets

In other Arvinas news, CEO John G. Houston sold 31,338 shares of the company'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 sale, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian Taylor sold 9,020 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 50,230 shares of company stock worth $769,402. Company insiders own 5.23% of the company's stock.

Arvinas 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.