Key Points
- CEO Randy Teel sold 2,209 shares of Arvinas stock on May 21 at an average price of $9.04, for proceeds of about $19,969. The filing says the sale was made to cover tax withholding tied to vesting equity awards.
- Teel has been active in selling shares recently, including another 9,657-share sale on May 11 and 4,786 shares on Feb. 23.
- Arvinas reported a smaller-than-expected quarterly loss, posting EPS of -$0.90 versus estimates of -$0.95, but revenue fell 91.7% year over year and the company remains unprofitable. Analysts currently have a consensus Hold rating with a $14.69 average price target.
Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) CEO Randy Teel sold 2,209 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $9.04, for a total transaction of $19,969.36. Following the transaction, the chief executive officer owned 285,009 shares in the company, valued at approximately $2,576,481.36. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Randy Teel also recently made the following trade(s):
- On Monday, May 11th, Randy Teel sold 9,657 shares of Arvinas stock. The stock was sold at an average price of $9.94, for a total transaction of $95,990.58.
- On Monday, February 23rd, Randy Teel sold 4,786 shares of Arvinas stock. The stock was sold at an average price of $12.16, for a total transaction of $58,197.76.
Arvinas Trading Down 0.1%
Shares of ARVN opened at $9.09 on Friday. The firm has a market cap of $586.49 million, a PE ratio of -2.74 and a beta of 1.79. The company's 50 day simple moving average is $10.50 and its 200-day simple moving average is $11.64. Arvinas, Inc. has a 12-month low of $6.05 and a 12-month high of $14.51.
Arvinas (NASDAQ:ARVN - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.95) by $0.05. The business had revenue of $15.60 million for the quarter, compared to analyst estimates of $16.61 million. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The company's revenue for the quarter was down 91.7% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. As a group, equities research analysts forecast that Arvinas, Inc. will post -2.85 EPS for the current fiscal year.
Institutional Investors Weigh In On Arvinas
A number of hedge funds and other institutional investors have recently bought and sold shares of ARVN. Tower Research Capital LLC TRC lifted its holdings in Arvinas by 491.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company's stock valued at $43,000 after acquiring an additional 4,835 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Arvinas by 109.4% in the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock valued at $49,000 after acquiring an additional 3,500 shares during the period. State of Wyoming acquired a new stake in Arvinas in the third quarter valued at $68,000. Aster Capital Management DIFC Ltd acquired a new stake in Arvinas in the third quarter valued at $92,000. Finally, Jain Global LLC acquired a new stake in Arvinas in the third quarter valued at $95,000. Institutional investors and hedge funds own 95.19% of the company's stock.
Analyst Ratings Changes
ARVN has been the subject of several recent research reports. Wall Street Zen downgraded Arvinas from a "hold" rating to a "sell" rating in a report on Monday, March 2nd. Truist Financial set a $10.00 price target on Arvinas in a report on Wednesday, March 18th. Citigroup increased their price target on Arvinas from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Wedbush increased their price target on Arvinas from $9.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, February 24th. Finally, BTIG Research increased their price target on Arvinas from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $14.69.
View Our Latest Research Report on Arvinas
About Arvinas
(
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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