Insider Selling: Arvinas (NASDAQ:ARVN) CFO Sells $46,479.36 in Stock

Arvinas, Inc. (NASDAQ:ARVN) CFO Andrew Saik sold 5,696 shares of Arvinas stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total transaction of $46,479.36. Following the completion of the sale, the chief financial officer owned 187,432 shares in the company, valued at $1,529,445.12. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 Monday, May 11th, Andrew Saik sold 11,139 shares of Arvinas stock. The stock was sold at an average price of $9.94, for a total transaction of $110,721.66.

Arvinas Trading Up 0.1%

Shares of ARVN opened at $8.04 on Friday. The stock has a market capitalization of $518.42 million, a price-to-earnings ratio of -2.42 and a beta of 1.74. Arvinas, Inc. has a 12 month low of $6.05 and a 12 month high of $14.51. The firm has a fifty day simple moving average of $8.93 and a 200 day simple moving average of $11.04.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) 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 firm had revenue of $15.60 million for the quarter, compared to analyst estimates of $16.61 million. During the same period in the previous year, the business earned $1.14 EPS. The company’s revenue was down 91.7% compared to the same quarter last year. As a group, research analysts predict that Arvinas, Inc. will post -2.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ARVN shares. Wall Street Zen downgraded Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Truist Financial set a $10.00 price target on Arvinas in a research report on Wednesday, March 18th. Stephens reissued an “overweight” rating and set a $18.00 price target on shares of Arvinas in a research report on Wednesday, June 3rd. Zacks Research upgraded Arvinas from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Barclays boosted their price target on Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.42.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in shares of Arvinas by 491.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after purchasing an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after purchasing an additional 3,500 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Arvinas during the third quarter worth about $92,000. Jain Global LLC bought a new position in Arvinas during the third quarter worth about $95,000. Finally, Rafferty Asset Management LLC acquired a new position in Arvinas during the third quarter worth approximately $115,000. 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.