Andrew Saik Sells 5,134 Shares of Arvinas (NASDAQ:ARVN) Stock

Arvinas, Inc. (NASDAQ:ARVN) CFO Andrew Saik sold 5,134 shares of Arvinas stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $11.89, for a total value of $61,043.26. Following the transaction, the chief financial officer owned 159,267 shares of the company’s stock, valued at $1,893,684.63. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Arvinas Trading Up 5.2%

Arvinas stock opened at $12.44 on Friday. The company has a market capitalization of $798.90 million, a price-to-earnings ratio of -15.36 and a beta of 1.88. Arvinas, Inc. has a 12 month low of $5.90 and a 12 month high of $19.15. The stock’s 50 day moving average is $12.38 and its 200-day moving average is $10.35.

Analysts Set New Price Targets

ARVN has been the subject of a number of analyst reports. Barclays boosted their price target on Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. BTIG Research increased their price target on shares of Arvinas from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wall Street Zen downgraded shares of Arvinas from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Wedbush reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Arvinas in a report on Thursday, November 6th. Finally, Wells Fargo & Company lowered their price target on Arvinas from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.12.

Institutional Investors Weigh In On Arvinas

Hedge funds and other institutional investors have recently bought and sold shares of the company. TCG Crossover Management LLC bought a new position in Arvinas in the third quarter valued at about $13,780,000. Acadian Asset Management LLC raised its holdings in Arvinas by 791.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock valued at $10,498,000 after buying an additional 1,267,593 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Arvinas by 469.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after buying an additional 995,125 shares during the period. Qube Research & Technologies Ltd grew its holdings in Arvinas by 154.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after acquiring an additional 903,337 shares during the last quarter. Finally, Millennium Management LLC increased its position in Arvinas by 208.4% in the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after acquiring an additional 885,483 shares during the period. Institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.