Arvinas (NASDAQ:ARVN) CFO Andrew Saik Sells 5,696 Shares of Stock

Arvinas, Inc. (NASDAQ:ARVN) CFO Andrew Saik sold 5,696 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total value of $46,479.36. Following the completion of the sale, the chief financial officer owned 187,432 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. 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 stock was sold at an average price of $9.94, for a total value of $110,721.66.

Arvinas Stock Performance

Shares of ARVN stock opened at $8.05 on Thursday. Arvinas, Inc. has a fifty-two week low of $6.05 and a fifty-two week high of $14.51. The firm has a market capitalization of $519.39 million, a price-to-earnings ratio of -2.42 and a beta of 1.74. The stock’s 50-day simple moving average is $9.05 and its 200-day simple moving average is $11.10.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.05. The firm had revenue of $15.60 million during 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%. Arvinas’s revenue was down 91.7% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. As a group, equities analysts forecast that Arvinas, Inc. will post -2.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ARVN shares. Weiss Ratings raised shares of Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Barclays upped their target price on Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Citigroup raised their target price on Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Wall Street Zen cut Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $20.00 price target (up from $16.00) on shares of Arvinas in a research note on Wednesday, February 25th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Arvinas currently has a consensus rating of “Hold” and an average target price of $15.42.

Institutional Trading of Arvinas

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quantinno Capital Management LP increased its stake in shares of Arvinas by 12.5% in the first quarter. Quantinno Capital Management LP now owns 74,540 shares of the company’s stock worth $790,000 after acquiring an additional 8,295 shares during the period. Weiss Asset Management LP acquired a new position in Arvinas during the first quarter valued at $385,000. Public Employees Retirement System of Ohio boosted its holdings in Arvinas by 876.1% in 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 purchasing an additional 87,611 shares during the last quarter. Sei Investments Co. boosted its holdings in 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 purchasing an additional 48,444 shares during the last quarter. Finally, Globeflex Capital L P grew its position in Arvinas by 433.2% during the 1st quarter. Globeflex Capital L P now owns 59,331 shares of the company’s stock worth $629,000 after purchasing an additional 48,203 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.