Arvinas (NASDAQ:ARVN) Insider Noah Berkowitz Sells 6,435 Shares of Stock

Arvinas, Inc. (NASDAQ:ARVN) insider Noah Berkowitz sold 6,435 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $11.10, for a total value of $71,428.50. Following the completion of the sale, the insider directly owned 202,503 shares of the company’s stock, valued at approximately $2,247,783.30. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Noah Berkowitz also recently made the following trade(s):

• On Friday, February 13th, Noah Berkowitz sold 5,685 shares of Arvinas stock. The stock was sold at an average price of $11.89, for a total value of $67,594.65.

Arvinas Trading Down 1.8%

Shares of NASDAQ ARVN opened at $10.97 on Friday. The stock has a market cap of $701.39 million, a P/E ratio of -8.59 and a beta of 1.87. Arvinas, Inc. has a twelve month low of $5.90 and a twelve month high of $14.51. The stock has a 50 day moving average of $12.72 and a two-hundred day moving average of $11.13.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, February 24th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.55). The business had revenue of $9.50 million for the quarter, compared to analysts’ expectations of $37.26 million. Arvinas had a negative return on equity of 14.25% and a negative net margin of 30.77%.The business’s revenue was down 84.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.63) earnings per share. As a group, research analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

Large investors have recently bought and sold shares of the company. Corient Private Wealth LLC purchased a new stake in shares of Arvinas in the fourth quarter valued at about $127,000. Invesco Ltd. lifted its position in Arvinas by 26.9% in the fourth quarter. Invesco Ltd. now owns 302,100 shares of the company’s stock valued at $3,583,000 after purchasing an additional 64,044 shares during the period. State of Tennessee Department of Treasury acquired a new stake in Arvinas in the fourth quarter valued at about $323,000. Ikarian Capital LLC boosted its holdings in Arvinas by 58.3% in the 4th quarter. Ikarian Capital LLC now owns 358,257 shares of the company’s stock valued at $4,249,000 after purchasing an additional 132,000 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Arvinas during the 4th quarter worth approximately $1,079,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ARVN. Barclays raised their price objective on shares of Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Wedbush increased their target price on shares of Arvinas from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. BTIG Research raised their price target on Arvinas from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup boosted their price target on Arvinas from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $20.00 price objective (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.88.

About Arvinas

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.