Arvinas, Inc. (NASDAQ:ARVN) CEO Sells $523,971.36 in Stock

Arvinas, Inc. (NASDAQ:ARVN) CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Arvinas Price Performance

ARVN stock opened at $16.75 on Tuesday. The company’s fifty day moving average price is $18.44 and its 200-day moving average price is $22.85. Arvinas, Inc. has a one year low of $16.07 and a one year high of $51.51.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter last year, the firm earned ($2.53) earnings per share. As a group, analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ARVN shares. Oppenheimer increased their target price on Arvinas from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. Guggenheim reissued a “buy” rating and set a $57.00 price target on shares of Arvinas in a research note on Wednesday, February 12th. Stephens initiated coverage on Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target on the stock. Finally, Barclays reduced their price target on Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Arvinas presently has a consensus rating of “Buy” and an average price target of $60.00.

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new stake in shares of Arvinas in the 3rd quarter worth about $3,442,000. Mirae Asset Global Investments Co. Ltd. raised its position in Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after purchasing an additional 440 shares during the period. abrdn plc lifted its stake in shares of Arvinas by 27.8% in the 3rd quarter. abrdn plc now owns 78,585 shares of the company’s stock valued at $1,936,000 after purchasing an additional 17,093 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Arvinas by 64.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,203 shares of the company’s stock valued at $325,000 after purchasing an additional 5,163 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Arvinas in the 3rd quarter worth approximately $350,000. Institutional investors own 95.19% of the company’s stock.

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.