Renaissance Technologies LLC Has $1.32 Million Stake in Arvinas, Inc. (NASDAQ:ARVN)

Renaissance Technologies LLC reduced its stake in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 52.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,900 shares of the company's stock after selling 75,500 shares during the quarter. Renaissance Technologies LLC owned about 0.10% of Arvinas worth $1,321,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. KBC Group NV grew its holdings in Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company's stock valued at $55,000 after purchasing an additional 1,255 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Arvinas in the 4th quarter valued at $171,000. Teacher Retirement System of Texas increased its position in shares of Arvinas by 19.0% in the 4th quarter. Teacher Retirement System of Texas now owns 14,295 shares of the company's stock valued at $274,000 after buying an additional 2,280 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Arvinas by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,570 shares of the company's stock worth $279,000 after buying an additional 1,367 shares during the period. Finally, LPL Financial LLC lifted its holdings in Arvinas by 12.5% during the fourth quarter. LPL Financial LLC now owns 18,669 shares of the company's stock worth $358,000 after acquiring an additional 2,077 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ARVN shares. Bank of America dropped their price target on Arvinas from $54.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. 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 note on Wednesday, April 9th. Citigroup lowered their price objective on shares of Arvinas from $28.00 to $19.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Oppenheimer cut shares of Arvinas from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Finally, BMO Capital Markets set a $20.00 target price on Arvinas and gave the stock an "outperform" rating 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.33.

Arvinas Trading Up 1.8 %

Shares of ARVN opened at $9.21 on Tuesday. The company's fifty day simple moving average is $10.39 and its 200 day simple moving average is $17.88. Arvinas, Inc. has a 1-year low of $5.94 and a 1-year high of $37.38. The company has a market cap of $633.39 million, a price-to-earnings ratio of -3.32 and a beta of 2.30.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business posted ($2.53) EPS. As a group, research analysts forecast that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Insider Transactions at Arvinas

In related news, insider Ian Taylor sold 9,020 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the transaction, the insider now owns 159,121 shares in the company, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $74,372.22. Following the completion of the transaction, the insider now directly owns 110,023 shares in the company, valued at approximately $945,097.57. This represents a 7.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,230 shares of company stock worth $769,402. 5.23% of the stock is owned by company insiders.

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.

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