Canada Pension Plan Investment Board Makes New $332,000 Investment in Arvinas, Inc. (NASDAQ:ARVN)

Canada Pension Plan Investment Board bought a new stake in Arvinas, Inc. (NASDAQ:ARVN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 17,300 shares of the company’s stock, valued at approximately $332,000.

Several other hedge funds have also made changes to their positions in ARVN. Invesco Ltd. raised its stake in Arvinas by 1.6% during the 4th quarter. Invesco Ltd. now owns 37,254 shares of the company’s stock valued at $714,000 after acquiring an additional 581 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Arvinas by 0.9% during the fourth quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock worth $1,685,000 after purchasing an additional 754 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Arvinas by 0.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock worth $2,694,000 after purchasing an additional 777 shares during the period. Bank of Montreal Can grew its position in Arvinas by 2.7% in the 4th quarter. Bank of Montreal Can now owns 39,407 shares of the company’s stock valued at $755,000 after buying an additional 1,044 shares during the last quarter. Finally, KBC Group NV increased its stake in Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after buying an additional 1,255 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARVN. Morgan Stanley lowered their target price on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Truist Financial lowered their price objective on Arvinas from $65.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company set a $26.00 target price on Arvinas and gave the stock an “overweight” rating in a research note on Wednesday, March 12th. Guggenheim decreased their price target on Arvinas from $57.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Finally, Oppenheimer lowered Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.33.

Arvinas Trading Down 1.0 %

NASDAQ:ARVN opened at $9.05 on Friday. The company has a market capitalization of $622.39 million, a P/E ratio of -3.27 and a beta of 2.30. The firm has a 50-day moving average price of $10.58 and a two-hundred day moving average price of $18.09. Arvinas, Inc. has a twelve month low of $5.94 and a twelve month high of $37.38.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter in the previous year, the business posted ($2.53) earnings per share. On average, equities research analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Noah Berkowitz sold 8,658 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now owns 110,023 shares of the company’s stock, valued at $945,097.57. This trade represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.72, for a total transaction of $523,971.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,230 shares of company stock valued at $769,402. Corporate insiders own 5.23% of the company’s stock.

Arvinas Profile

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body’s own natural protein disposal system to degrade and remove disease-causing proteins.