Andrew Saik Sells 11,139 Shares of Arvinas (NASDAQ:ARVN) Stock

Arvinas, Inc. (NASDAQ:ARVN) CFO Andrew Saik sold 11,139 shares of Arvinas stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $110,721.66. Following the transaction, the chief financial officer directly owned 193,128 shares in the company, valued at $1,919,692.32. This represents a 5.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Saik also recently made the following trade(s):

• On Friday, February 13th, Andrew Saik sold 5,134 shares of Arvinas stock. The shares were sold at an average price of $11.89, for a total transaction of $61,043.26.

Arvinas Price Performance

Shares of NASDAQ:ARVN opened at $9.42 on Friday. Arvinas, Inc. has a 1-year low of $5.90 and a 1-year high of $14.51. The company has a market capitalization of $607.78 million, a P/E ratio of -2.84 and a beta of 1.79. The firm’s 50 day simple moving average is $11.06 and its two-hundred day simple moving average is $11.69.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.05. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The business had revenue of $15.60 million for the quarter, compared to the consensus estimate of $16.61 million. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was down 91.7% on a year-over-year basis. On average, sell-side analysts anticipate that Arvinas, Inc. will post -3.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARVN has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arvinas in a report on Friday, April 10th. Zacks Research downgraded shares of Arvinas from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Barclays boosted their target price on shares of Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday. BTIG Research boosted their target price on shares of Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $20.00 target price (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.69.

Key Stories Impacting Arvinas

Here are the key news stories impacting Arvinas this week:

• Positive Sentiment: BTIG Research raised Arvinas’ price target to $18 and kept a Buy rating, reinforcing a bullish view on the stock’s longer-term potential. Arvinas (NASDAQ:ARVN) Price Target Raised to $18.00 at BTIG Research
• Positive Sentiment: The licensing deal for vepdegestrant could bring in substantial upfront and milestone payments, highlighting continued interest in Arvinas’ oncology pipeline. Rigel strikes licensing deal for Pfizer and Arvinas’ breast cancer drug
• Neutral Sentiment: Arvinas’ quarterly loss came in slightly better than expected, but revenue missed estimates and fell sharply year over year, showing the company remains far from profitability. Arvinas, Inc. (ARVN) Reports Q1 Loss, Misses Revenue Estimates
• Negative Sentiment: Recent insider sales by the CEO, CFO, CAO, and another executive may weigh on sentiment, even though the transactions were reportedly related to tax withholding on vested awards. CEO insider filing

Hedge Funds Weigh In On Arvinas

Several hedge funds have recently modified their holdings of the stock. Armistice Capital LLC lifted its holdings in shares of Arvinas by 50.0% in the fourth quarter. Armistice Capital LLC now owns 1,800,000 shares of the company’s stock worth $21,348,000 after buying an additional 600,000 shares in the last quarter. TCG Crossover Management LLC purchased a new position in shares of Arvinas in the third quarter worth $13,780,000. Qube Research & Technologies Ltd lifted its holdings in shares of Arvinas by 154.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after buying an additional 903,337 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after buying an additional 885,483 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Arvinas by 469.1% during the third quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock valued at $10,286,000 after purchasing an additional 995,125 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

About Arvinas

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.