Sit Investment Associates Inc. Boosts Stake in Arvinas, Inc. (NASDAQ:ARVN)

Sit Investment Associates Inc. lifted its position in Arvinas, Inc. (NASDAQ:ARVN) by 47.8% in the fourth quarter, Holdings Channel reports. The firm owned 51,594 shares of the company’s stock after acquiring an additional 16,693 shares during the period. Sit Investment Associates Inc.’s holdings in Arvinas were worth $989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ARVN. Vanguard Group Inc. lifted its stake in Arvinas by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock valued at $135,389,000 after buying an additional 56,561 shares during the last quarter. JPMorgan Chase & Co. raised its position in Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after purchasing an additional 367,343 shares during the last quarter. Norges Bank acquired a new stake in Arvinas during the 4th quarter worth $23,845,000. Charles Schwab Investment Management Inc. grew its position in Arvinas by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,112 shares of the company’s stock worth $10,277,000 after purchasing an additional 5,443 shares during the last quarter. Finally, BIT Capital GmbH grew its position in Arvinas by 291.7% during the 4th quarter. BIT Capital GmbH now owns 263,527 shares of the company’s stock worth $5,052,000 after purchasing an additional 196,246 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Analysts Set New Price Targets

ARVN has been the subject of several recent research reports. Oppenheimer downgraded shares of Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Bank of America decreased their price objective on Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Morgan Stanley lowered their target price on Arvinas from $48.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Stifel Nicolaus cut their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group downgraded Arvinas from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $70.00 to $15.00 in a report on Thursday, March 13th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Insider Activity at Arvinas

In other news, insider Ian Taylor sold 9,020 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the transaction, the insider now owns 159,121 shares in the company, valued at $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,230 shares of company stock valued at $769,402 in the last ninety days. Corporate insiders own 5.23% of the company’s stock.

Arvinas Stock Down 4.9 %

NASDAQ:ARVN opened at $6.56 on Monday. Arvinas, Inc. has a fifty-two week low of $6.24 and a fifty-two week high of $39.34. The firm’s fifty day simple moving average is $14.15 and its 200-day simple moving average is $20.00. The stock has a market cap of $451.14 million, a PE ratio of -2.37 and a beta of 2.30.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm earned ($2.53) earnings per share. Equities analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Arvinas Company 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.