Key Points
- Noah Berkowitz sold 6,435 shares on March 18 at an average price of $11.10 for $71,428.50, reducing his holdings to 202,503 shares (a 3.08% cut).
- Arvinas posted a steep quarterly miss—EPS of ($1.10) vs. ($0.55) expected and revenue of $9.5M versus $37.26M forecast, with revenue down ~84% year-over-year.
- Analyst sentiment is mixed (average rating "Hold") with a consensus price target of $13.88, while institutional investors own roughly 95.19% of the stock and some funds recently increased positions.
Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) insider Noah Berkowitz sold 6,435 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $11.10, for a total value of $71,428.50. Following the transaction, the insider directly owned 202,503 shares in the company, valued at $2,247,783.30. This represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
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 Stock Performance
Arvinas stock opened at $10.97 on Friday. The company 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 one year low of $5.90 and a one year high of $14.51. The business has a fifty day moving average of $12.72 and a two-hundred day moving average of $11.13.
Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($1.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.55). The company had revenue of $9.50 million for the quarter, compared to analyst estimates 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 for the quarter was down 84.0% compared to the same quarter last year. During the same period last year, the company earned ($0.63) earnings per share. Sell-side analysts predict that Arvinas, Inc. will post -3.81 EPS for the current year.
Wall Street Analyst Weigh In
ARVN has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Arvinas from a "hold" rating to a "sell" rating in a research report on Monday, March 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Arvinas in a research note on Monday, December 22nd. Barclays raised their price objective on Arvinas from $16.00 to $18.00 and gave the company an "overweight" rating in a research note on Wednesday, December 17th. Piper Sandler reaffirmed an "overweight" rating and set a $20.00 price objective (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Finally, Truist Financial set a $10.00 target price on Arvinas in a report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Arvinas presently has an average rating of "Hold" and a consensus price target of $13.88.
Check Out Our Latest Research Report on Arvinas
Institutional Trading of Arvinas
Institutional investors and hedge funds have recently modified their holdings of the business. Armistice Capital LLC increased its stake in shares of Arvinas by 50.0% during the 4th quarter. Armistice Capital LLC now owns 1,800,000 shares of the company's stock worth $21,348,000 after purchasing an additional 600,000 shares in the last quarter. TCG Crossover Management LLC purchased a new stake in Arvinas in the 3rd quarter valued at approximately $13,780,000. Geode Capital Management LLC lifted its stake in Arvinas by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,585,092 shares of the company's stock valued at $11,668,000 after buying an additional 48,296 shares in the last quarter. 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 valued at $12,668,000 after buying an additional 903,337 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Arvinas by 208.4% during the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company's stock valued at $9,198,000 after buying an additional 885,483 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company's stock.
Arvinas Company Profile
(
Get Free Report)
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.
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