Norges Bank Purchases New Holdings in Arvinas, Inc. (NASDAQ:ARVN)

Norges Bank purchased a new stake in Arvinas, Inc. (NASDAQ:ARVN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,243,868 shares of the company's stock, valued at approximately $23,845,000. Norges Bank owned approximately 1.81% of Arvinas as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ARVN. BIT Capital GmbH lifted its position in Arvinas by 291.7% in the 4th quarter. BIT Capital GmbH now owns 263,527 shares of the company's stock valued at $5,052,000 after acquiring an additional 196,246 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Arvinas by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company's stock valued at $135,389,000 after purchasing an additional 56,561 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Arvinas by 12.5% in the fourth quarter. LPL Financial LLC now owns 18,669 shares of the company's stock valued at $358,000 after purchasing an additional 2,077 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Arvinas during the fourth quarter worth about $171,000. Finally, Teacher Retirement System of Texas grew its holdings 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. Institutional investors and hedge funds own 95.19% of the company's stock.

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Insider Buying and Selling

In other Arvinas news, CEO John G. Houston sold 31,338 shares of the company'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 transaction, the chief executive officer now directly owns 1,157,480 shares of the company's stock, valued at $19,353,065.60. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the sale, 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 90 days, insiders sold 50,230 shares of company stock valued at $769,402. Company insiders own 5.23% of the company's stock.

Arvinas Stock Up 5.0 %

Shares of NASDAQ ARVN traded up $0.33 during midday trading on Friday, hitting $6.95. 2,851,035 shares of the company's stock were exchanged, compared to its average volume of 1,085,943. The firm has a market capitalization of $477.97 million, a PE ratio of -2.51 and a beta of 2.30. Arvinas, Inc. has a 12 month low of $5.94 and a 12 month high of $38.56. The company's 50 day moving average price is $12.58 and its 200 day moving average price is $19.18.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, topping analysts' consensus estimates 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 business earned ($2.53) earnings per share. On average, equities research analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ARVN. The Goldman Sachs Group downgraded Arvinas from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $70.00 to $15.00 in a research report on Thursday, March 13th. Wedbush cut shares of Arvinas from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $57.00 to $12.00 in a report on Wednesday, March 12th. Barclays lowered their price target on shares of Arvinas from $48.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Truist Financial cut their price target on shares of Arvinas from $65.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Bank of America decreased their price objective on Arvinas from $54.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $34.53.

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.