Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,611 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Arvinas, Inc. (NASDAQ:ARVN) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,033 shares of the company’s stock after purchasing an additional 1,611 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arvinas were worth $372,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Corton Capital Inc. raised its stake in Arvinas by 132.9% during the 3rd quarter. Corton Capital Inc. now owns 21,750 shares of the company’s stock worth $427,000 after buying an additional 12,411 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Arvinas during the fourth quarter worth about $2,202,000. China Universal Asset Management Co. Ltd. raised its position in shares of Arvinas by 363.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,370 shares of the company’s stock worth $262,000 after purchasing an additional 4,996 shares during the period. Capula Management Ltd bought a new position in shares of Arvinas during the 3rd quarter valued at about $808,000. Finally, Vanguard Group Inc. grew its position in shares of Arvinas by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,608,223 shares of the company’s stock valued at $90,505,000 after purchasing an additional 90,426 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO John G. Houston sold 5,196 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $244,471.80. Following the sale, the chief executive officer now owns 1,036,681 shares in the company, valued at approximately $48,775,841.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Sean A. Cassidy sold 1,702 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the sale, the chief financial officer now owns 181,916 shares in the company, valued at approximately $8,559,147.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John G. Houston sold 5,196 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $244,471.80. Following the completion of the transaction, the chief executive officer now owns 1,036,681 shares in the company, valued at approximately $48,775,841.05. The disclosure for this sale can be found here. Insiders sold a total of 8,597 shares of company stock valued at $404,489 over the last three months. Insiders own 5.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup cut shares of Arvinas from a “buy” rating to a “neutral” rating and upped their price target for the company from $36.00 to $55.00 in a report on Wednesday, February 14th. HC Wainwright dropped their price target on Arvinas from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Wedbush boosted their price target on Arvinas from $33.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Oppenheimer reiterated an “outperform” rating and set a $80.00 price objective (down from $95.00) on shares of Arvinas in a report on Wednesday, February 28th. Finally, Leerink Partnrs restated an “outperform” rating on shares of Arvinas in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.73.

Arvinas Price Performance

Shares of ARVN opened at $32.82 on Friday. The company has a market cap of $2.24 billion, a PE ratio of -5.05 and a beta of 1.95. The firm has a 50-day moving average of $39.88 and a 200-day moving average of $35.18. Arvinas, Inc. has a one year low of $13.57 and a one year high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 27th. The company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($1.38). The firm had revenue of ($43.10) million during the quarter, compared to analyst estimates of $38.91 million. Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. During the same quarter last year, the business posted ($1.56) earnings per share. Analysts expect that Arvinas, Inc. will post -5.02 earnings per share for the current year.

Arvinas Company 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.