Key Points
- Arvinas CFO Andrew Saik sold 5,696 shares on June 24 at an average price of $8.16, totaling about $46,479. The sale reduced his direct ownership by 2.95% and was filed under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards.
- The stock was trading near its lows, opening at $8.05 and sitting well below its 12-month high of $14.51. Arvinas also has a 50-day moving average of $9.05 and a 200-day moving average of $11.10.
- Analysts remain mixed on ARVN: the consensus rating is Hold with an average price target of $15.42, though several firms still rate it Buy or Overweight. The company recently beat EPS expectations, but revenue fell sharply year over year and remains deeply negative.
Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) CFO Andrew Saik sold 5,696 shares of the firm's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total value of $46,479.36. Following the sale, the chief financial officer directly owned 187,432 shares in the company, valued at approximately $1,529,445.12. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Andrew Saik also recently made the following trade(s):
- On Monday, May 11th, Andrew Saik sold 11,139 shares of Arvinas stock. The shares were sold at an average price of $9.94, for a total value of $110,721.66.
Arvinas Trading Down 1.1%
Shares of NASDAQ:ARVN opened at $8.05 on Thursday. Arvinas, Inc. has a 12-month low of $6.05 and a 12-month high of $14.51. The business has a 50 day moving average of $9.05 and a two-hundred day moving average of $11.10. The company has a market capitalization of $519.39 million, a PE ratio of -2.42 and a beta of 1.74.
Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.90) EPS for the quarter, topping analysts' consensus estimates of ($0.95) by $0.05. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The business had revenue of $15.60 million for the quarter, compared to analysts' expectations of $16.61 million. During the same quarter last year, the company earned $1.14 EPS. The business's revenue was down 91.7% on a year-over-year basis. Equities research analysts predict that Arvinas, Inc. will post -2.82 earnings per share for the current fiscal year.
Analysts Set New Price Targets
ARVN has been the subject of a number of analyst reports. Zacks Research upgraded shares of Arvinas from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 26th. BTIG Research raised their target price on Arvinas from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Truist Financial set a $10.00 price target on Arvinas in a research note on Wednesday, March 18th. Wall Street Zen cut Arvinas from a "hold" rating to a "sell" rating in a report on Monday, March 2nd. Finally, Stephens reiterated an "overweight" rating and set a $18.00 price target on shares of Arvinas in a research report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $15.42.
Get Our Latest Research Report on Arvinas
Institutional Investors Weigh In On Arvinas
Several institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP increased its stake in Arvinas by 12.5% during the 1st quarter. Quantinno Capital Management LP now owns 74,540 shares of the company's stock worth $790,000 after buying an additional 8,295 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Arvinas during the first quarter valued at approximately $385,000. Public Employees Retirement System of Ohio raised its holdings in shares of Arvinas by 876.1% during the first quarter. Public Employees Retirement System of Ohio now owns 97,611 shares of the company's stock valued at $1,035,000 after acquiring an additional 87,611 shares during the last quarter. Sei Investments Co. lifted its position in shares of Arvinas by 160.7% in the first quarter. Sei Investments Co. now owns 78,587 shares of the company's stock valued at $833,000 after acquiring an additional 48,444 shares in the last quarter. Finally, Globeflex Capital L P lifted its position in shares of Arvinas by 433.2% in the first quarter. Globeflex Capital L P now owns 59,331 shares of the company's stock valued at $629,000 after acquiring an additional 48,203 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.
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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