Insider Buying: Arvinas (NASDAQ:ARVN) Director Purchases 20,000 Shares of Stock

Arvinas, Inc. (NASDAQ:ARVN) Director Briggs Morrison purchased 20,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was acquired at an average cost of $13.40 per share, for a total transaction of $268,000.00. Following the completion of the purchase, the director owned 96,021 shares of the company’s stock, valued at approximately $1,286,681.40. This trade represents a 26.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arvinas Stock Performance

Shares of Arvinas stock traded down $0.23 on Monday, reaching $13.37. 589,709 shares of the company’s stock were exchanged, compared to its average volume of 813,438. The company has a market capitalization of $855.15 million, a P/E ratio of -10.45 and a beta of 1.87. Arvinas, Inc. has a 52 week low of $5.90 and a 52 week high of $18.45. The firm’s 50-day moving average is $12.61 and its two-hundred day moving average is $10.87.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.55). Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The company had revenue of $9.50 million during the quarter, compared to the consensus estimate of $37.26 million. During the same quarter in the prior year, the firm earned ($0.63) EPS. The business’s revenue was down 84.0% compared to the same quarter last year. On average, analysts expect that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ARVN has been the topic of several research reports. Wedbush upped their price objective on shares of Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Barclays upped their price target on Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Stephens raised their price objective on Arvinas from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Finally, Wall Street Zen cut Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Ten investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $13.65.

Hedge Funds Weigh In On Arvinas

Several large investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its stake in Arvinas by 7.2% during the 4th quarter. ProShare Advisors LLC now owns 14,827 shares of the company’s stock valued at $176,000 after purchasing an additional 993 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Arvinas by 3.6% in the third quarter. Intech Investment Management LLC now owns 32,653 shares of the company’s stock worth $278,000 after purchasing an additional 1,125 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Arvinas by 4.3% in the fourth quarter. MetLife Investment Management LLC now owns 33,810 shares of the company’s stock worth $401,000 after purchasing an additional 1,381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after purchasing an additional 2,122 shares in the last quarter. Finally, Oxford Asset Management LLP boosted its position in shares of Arvinas by 15.5% during the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock valued at $123,000 after buying an additional 2,242 shares during the last quarter. Institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.