Swiss National Bank raised its position in Arvinas, Inc. (NASDAQ:ARVN – Get Rating) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,200 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Swiss National Bank’s holdings in Arvinas were worth $3,736,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in Arvinas during the first quarter worth $57,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Arvinas in the 4th quarter valued at approximately $34,000. Royal Bank of Canada grew its holdings in shares of Arvinas by 37.6% during the 3rd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $54,000 after purchasing an additional 336 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Arvinas by 25.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,384 shares of the company’s stock worth $69,000 after purchasing an additional 284 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Arvinas in the 3rd quarter valued at approximately $95,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO John G. Houston sold 5,878 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $29.53, for a total transaction of $173,577.34. Following the transaction, the chief executive officer now directly owns 917,427 shares of the company’s stock, valued at $27,091,619.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Arvinas news, insider Ian Taylor sold 1,051 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $29.53, for a total value of $31,036.03. Following the completion of the sale, the insider now owns 101,721 shares of the company’s stock, valued at $3,003,821.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John G. Houston sold 5,878 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $29.53, for a total value of $173,577.34. Following the sale, the chief executive officer now owns 917,427 shares of the company’s stock, valued at approximately $27,091,619.31. The disclosure for this sale can be found here. Insiders sold 8,674 shares of company stock worth $256,143 in the last quarter. 2.78% of the stock is owned by corporate insiders.
Arvinas Trading Down 1.2 %
Arvinas (NASDAQ:ARVN – Get Rating) last issued its earnings results on Friday, May 5th. The company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.05). Arvinas had a negative return on equity of 50.85% and a negative net margin of 227.86%. The business had revenue of $32.50 million during the quarter, compared to the consensus estimate of $27.74 million. During the same quarter in the previous year, the firm posted ($1.20) earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, analysts forecast that Arvinas, Inc. will post -6.7 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Arvinas in a report on Friday, February 24th. Credit Suisse Group cut their price target on Arvinas from $81.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. Morgan Stanley dropped their price objective on shares of Arvinas from $57.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Arvinas in a report on Tuesday, January 31st. Finally, Stifel Nicolaus decreased their price target on shares of Arvinas from $75.00 to $72.00 in a research report on Monday, May 8th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.33.
Arvinas, Inc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its product candidates are ARV-110, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer, ARV-471, and ARV-766, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer.
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