David Loomis Sells 1,919 Shares of Arvinas (NASDAQ:ARVN) Stock

Arvinas, Inc. (NASDAQ:ARVN) CAO David Loomis sold 1,919 shares of the 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 $19,074.86. Following the completion of the sale, the chief accounting officer owned 40,193 shares in the company, valued at $399,518.42. This represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arvinas Price Performance

Arvinas stock opened at $9.42 on Friday. The firm has a market capitalization of $607.78 million, a price-to-earnings ratio of -2.84 and a beta of 1.79. The company’s 50 day simple moving average is $11.06 and its 200 day simple moving average is $11.69. Arvinas, Inc. has a fifty-two week low of $5.90 and a fifty-two week high of $14.51.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, May 12th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.05. The company had revenue of $15.60 million for the quarter, compared to analyst estimates of $16.61 million. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The business’s revenue for the quarter was down 91.7% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. As a group, analysts predict that Arvinas, Inc. will post -3.27 EPS for the current fiscal year.

Key Headlines 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

Analyst Ratings Changes

Several research firms have weighed in on ARVN. Wedbush lifted their target price on Arvinas from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Zacks Research lowered Arvinas from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Piper Sandler reiterated an “overweight” rating and set a $20.00 price objective (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Truist Financial set a $10.00 price objective on Arvinas in a research report on Wednesday, March 18th. Finally, Citigroup raised their target price on shares of Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.69.

Institutional Trading of Arvinas

Several hedge funds and other institutional investors have recently modified their holdings of ARVN. Tower Research Capital LLC TRC boosted its position in shares of Arvinas by 491.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after buying an additional 4,835 shares during the period. Canada Pension Plan Investment Board boosted its position in Arvinas by 109.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after acquiring an additional 3,500 shares during the last quarter. State of Wyoming acquired a new position in Arvinas during the 3rd quarter worth approximately $68,000. Aster Capital Management DIFC Ltd bought a new position in shares of Arvinas during the 3rd quarter worth approximately $92,000. Finally, Jain Global LLC acquired a new stake in shares of Arvinas in the third quarter valued at approximately $95,000. Institutional investors and hedge funds 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.