Arvinas, Inc. (NASDAQ:ARVN) Position Increased by Neuberger Berman Group LLC

Neuberger Berman Group LLC raised its position in Arvinas, Inc. (NASDAQ:ARVN) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 164,392 shares of the company’s stock after buying an additional 5,762 shares during the quarter. Neuberger Berman Group LLC’s holdings in Arvinas were worth $3,151,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARVN. Vanguard Group Inc. increased its stake in shares of Arvinas by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock worth $135,389,000 after purchasing an additional 56,561 shares during the last quarter. JPMorgan Chase & Co. increased its position in Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after buying an additional 367,343 shares during the last quarter. Norges Bank acquired a new position in Arvinas during the fourth quarter worth $23,845,000. Finepoint Capital LP raised its holdings in Arvinas by 24.3% during the fourth quarter. Finepoint Capital LP now owns 713,778 shares of the company’s stock valued at $13,683,000 after buying an additional 139,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Arvinas by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 536,112 shares of the company’s stock worth $10,277,000 after buying an additional 5,443 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

Arvinas Trading Up 5.0 %

Shares of ARVN stock opened at $6.95 on Friday. Arvinas, Inc. has a 12 month low of $5.94 and a 12 month high of $38.56. The company has a market capitalization of $477.97 million, a P/E ratio of -2.51 and a beta of 2.30. The stock has a 50 day moving average of $12.58 and a two-hundred day moving average of $19.18.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period in the previous year, the company earned ($2.53) earnings per share. Sell-side analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Activity

In other Arvinas news, insider Ian Taylor sold 9,020 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Noah Berkowitz sold 8,658 shares of Arvinas stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the sale, the insider now directly owns 110,023 shares in the company, valued at $945,097.57. The trade was a 7.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,230 shares of company stock worth $769,402. Corporate insiders own 5.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Guggenheim reduced their target price on Arvinas from $57.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Barclays reduced their price objective on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets set a $20.00 price objective on shares of Arvinas and gave the stock an “outperform” rating in a report on Wednesday, March 12th. Morgan Stanley dropped 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. Finally, Wells Fargo & Company set a $26.00 price target on shares of Arvinas and gave the company an “overweight” rating in a report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.53.

About Arvinas

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.