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

Arvinas, Inc. (NASDAQ:ARVN) CFO Andrew Saik sold 5,696 shares of Arvinas stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total transaction of $46,479.36. Following the sale, the chief financial officer owned 187,432 shares of the company’s stock, valued at approximately $1,529,445.12. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $110,721.66.

Arvinas Stock Performance

NASDAQ:ARVN opened at $8.03 on Friday. The stock has a market capitalization of $518.10 million, a P/E ratio of -2.42 and a beta of 1.74. The company has a 50 day moving average price of $8.99 and a 200 day moving average price of $11.06. Arvinas, Inc. has a fifty-two week low of $6.05 and a fifty-two week high of $14.51.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Monday, May 11th. The company reported ($0.90) earnings per share 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 the consensus estimate of $16.61 million. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The firm’s revenue for the quarter was down 91.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. Research analysts forecast that Arvinas, Inc. will post -2.82 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Several hedge funds have recently modified their holdings of the stock. Hussman Strategic Advisors Inc. purchased a new position in shares of Arvinas in the 4th quarter valued at about $1,245,000. JPMorgan Chase & Co. raised its holdings in Arvinas by 475.5% in the third quarter. JPMorgan Chase & Co. now owns 214,779 shares of the company’s stock valued at $1,830,000 after acquiring an additional 177,460 shares in the last quarter. Brummer Multi Strategy AB acquired a new stake in Arvinas in the fourth quarter valued at approximately $1,973,000. Arbiter Partners Capital Management LLC acquired a new stake in Arvinas in the third quarter valued at approximately $3,858,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Arvinas by 371.0% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 70,650 shares of the company’s stock worth $838,000 after acquiring an additional 55,650 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ARVN. Stephens reiterated an “overweight” rating and issued a $18.00 price objective on shares of Arvinas in a report on Wednesday, June 3rd. Wall Street Zen cut Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Barclays boosted their price target on shares of Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, BTIG Research increased their price target on shares of Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.42.

About Arvinas

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.