Briggs Morrison Purchases 20,000 Shares of Arvinas (NASDAQ:ARVN) Stock

Arvinas, Inc. (NASDAQ:ARVN) Director Briggs Morrison acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average price of $13.40 per share, with a total value of $268,000.00. Following the acquisition, the director directly owned 96,021 shares in the company, valued at $1,286,681.40. This represents a 26.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Arvinas Price Performance

Shares of ARVN stock opened at $13.83 on Wednesday. The company has a market capitalization of $884.57 million, a P/E ratio of -10.80 and a beta of 1.87. The company’s 50-day simple moving average is $12.69 and its two-hundred day simple moving average is $10.96. Arvinas, Inc. has a one year low of $5.90 and a one year high of $14.51.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wedbush lifted their target price on Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Citigroup raised their price target on Arvinas from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Wall Street Zen downgraded Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arvinas in a research note on Monday, December 22nd. Finally, Barclays increased their target price on shares of Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arvinas currently has a consensus rating of “Hold” and an average target price of $13.65.

Institutional Trading of Arvinas

Several hedge funds and other institutional investors have recently bought and sold shares of ARVN. Tower Research Capital LLC TRC raised its position in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after acquiring an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after purchasing an additional 3,500 shares in the last quarter. State of Wyoming bought a new stake in Arvinas during the third quarter valued at about $68,000. Abel Hall LLC purchased a new position in Arvinas in the fourth quarter valued at about $125,000. Finally, Corient Private Wealth LLC purchased a new position in Arvinas in the fourth quarter valued at about $127,000. 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.