Russell Investments Group Ltd. Cuts Holdings in Arvinas, Inc. (NASDAQ:ARVN)

Russell Investments Group Ltd. trimmed its holdings in Arvinas, Inc. (NASDAQ:ARVN – Get Rating) by 16.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 38,715 shares of the company’s stock after selling 7,430 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Arvinas worth $1,324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ARVN. Raymond James & Associates lifted its holdings in shares of Arvinas by 21.3% in the 1st quarter. Raymond James & Associates now owns 6,686 shares of the company’s stock worth $450,000 after acquiring an additional 1,172 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Arvinas by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 25,350 shares of the company’s stock valued at $1,706,000 after buying an additional 9,039 shares during the last quarter. Rhumbline Advisers raised its holdings in Arvinas by 3.1% during the 1st quarter. Rhumbline Advisers now owns 49,324 shares of the company’s stock valued at $3,320,000 after buying an additional 1,479 shares during the last quarter. BlackRock Inc. raised its holdings in Arvinas by 0.6% during the 1st quarter. BlackRock Inc. now owns 3,525,259 shares of the company’s stock valued at $237,251,000 after buying an additional 19,519 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Arvinas by 743.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 17,786 shares of the company’s stock valued at $1,271,000 after buying an additional 15,678 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Arvinas Stock Performance

NASDAQ:ARVN opened at $24.00 on Thursday. The firm has a market cap of $1.28 billion, a P/E ratio of -4.24 and a beta of 1.75. Arvinas, Inc. has a fifty-two week low of $22.00 and a fifty-two week high of $58.58. The firm has a 50-day simple moving average of $26.29 and a two-hundred day simple moving average of $32.47.

Arvinas (NASDAQ:ARVN – Get Rating) last announced its quarterly earnings results on Friday, May 5th. The company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.05). The company had revenue of $32.50 million for the quarter, compared to analysts’ expectations of $27.74 million. Arvinas had a negative net margin of 227.86% and a negative return on equity of 50.85%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.20) EPS. On average, equities research analysts predict that Arvinas, Inc. will post -6.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ARVN shares. Morgan Stanley lowered their price target 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. Citigroup boosted their price objective on shares of Arvinas from $72.00 to $77.00 in a research report on Friday, March 17th. Stifel Nicolaus reduced their price objective on shares of Arvinas from $75.00 to $72.00 in a research report on Monday, May 8th. Credit Suisse Group reduced their price objective on shares of Arvinas from $81.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of Arvinas in a research report on Tuesday, January 31st. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Arvinas presently has an average rating of “Moderate Buy” and an average target price of $67.33.

Insider Activity

In other news, insider Ian Taylor sold 1,051 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $29.53, for a total transaction of $31,036.03. Following the sale, the insider now owns 101,721 shares of the company’s stock, valued at approximately $3,003,821.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Ian Taylor sold 1,051 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $29.53, for a total transaction of $31,036.03. Following the sale, the insider now owns 101,721 shares of the company’s stock, valued at approximately $3,003,821.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sean A. Cassidy sold 1,745 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $29.53, for a total transaction of $51,529.85. Following the sale, the chief financial officer now directly owns 183,618 shares in the company, valued at approximately $5,422,239.54. The disclosure for this sale can be found here. Insiders have sold a total of 8,674 shares of company stock valued at $256,143 in the last 90 days. 2.78% of the stock is currently owned by insiders.

Arvinas Company Profile

(Get Rating)

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.