Wellington Management Group LLP Decreases Stock Position in Arvinas, Inc. (NASDAQ:ARVN)

Wellington Management Group LLP lessened its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 44.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 76,163 shares of the company’s stock after selling 61,087 shares during the period. Wellington Management Group LLP owned approximately 0.14% of Arvinas worth $1,496,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARVN. Raymond James & Associates raised its holdings in Arvinas by 21.3% during the 1st quarter. Raymond James & Associates now owns 6,686 shares of the company’s stock valued at $450,000 after buying an additional 1,172 shares during the period. MetLife Investment Management LLC increased its stake in Arvinas by 55.4% in the first quarter. MetLife Investment Management LLC now owns 25,350 shares of the company’s stock worth $1,706,000 after purchasing an additional 9,039 shares during the period. Rhumbline Advisers increased its stake in Arvinas by 3.1% in the first quarter. Rhumbline Advisers now owns 49,324 shares of the company’s stock worth $3,320,000 after purchasing an additional 1,479 shares during the period. BlackRock Inc. increased its stake in Arvinas by 0.6% in the first quarter. BlackRock Inc. now owns 3,525,259 shares of the company’s stock worth $237,251,000 after purchasing an additional 19,519 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in Arvinas by 743.7% in the first quarter. Great West Life Assurance Co. Can now owns 17,786 shares of the company’s stock worth $1,271,000 after purchasing an additional 15,678 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ARVN shares. Leerink Partnrs reiterated an “outperform” rating on shares of Arvinas in a research note on Thursday, February 22nd. Barclays increased their target price on Arvinas from $26.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Wedbush increased their target price on Arvinas from $33.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Truist Financial restated a “buy” rating and set a $65.00 price target on shares of Arvinas in a research note on Monday. Finally, Citigroup downgraded Arvinas from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $36.00 to $55.00 in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.93.

Insider Transactions at Arvinas

In other news, CEO John G. Houston sold 5,196 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $244,471.80. Following the sale, the chief executive officer now owns 1,036,681 shares in the company, valued at $48,775,841.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO John G. Houston sold 5,196 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $244,471.80. Following the sale, the chief executive officer now owns 1,036,681 shares in the company, valued at $48,775,841.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sean A. Cassidy sold 1,702 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $80,079.10. Following the sale, the chief financial officer now owns 181,916 shares in the company, valued at approximately $8,559,147.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,597 shares of company stock worth $404,489. Insiders own 2.55% of the company’s stock.

Arvinas Stock Performance

Shares of Arvinas stock opened at $41.28 on Friday. The company has a market capitalization of $2.81 billion, a PE ratio of -6.35 and a beta of 1.95. The company has a 50-day simple moving average of $44.92 and a two-hundred day simple moving average of $32.52. Arvinas, Inc. has a one year low of $13.57 and a one year high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, February 27th. The company reported ($2.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($1.38). The firm had revenue of ($43.10) million during the quarter, compared to the consensus estimate of $38.91 million. Arvinas had a negative return on equity of 70.24% and a negative net margin of 185.09%. During the same quarter in the prior year, the firm posted ($1.56) earnings per share. On average, equities analysts predict that Arvinas, Inc. will post -5.92 earnings per share for the current fiscal year.

Arvinas Profile

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body's own natural protein disposal system to degrade and remove disease-causing proteins.