Arvinas, Inc. (NASDAQ:ARVN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,913 shares of the company’s stock after selling 13,891 shares during the quarter. Bank of New York Mellon Corp’s holdings in Arvinas were worth $3,372,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Handelsbanken Fonder AB increased its position in shares of Arvinas by 16.9% in the fourth quarter. Handelsbanken Fonder AB now owns 22,825 shares of the company’s stock valued at $438,000 after buying an additional 3,300 shares in the last quarter. Rhumbline Advisers increased its position in shares of Arvinas by 0.9% in the fourth quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock valued at $1,685,000 after buying an additional 754 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Arvinas by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,570 shares of the company’s stock valued at $279,000 after buying an additional 1,367 shares in the last quarter. KBC Group NV increased its position in shares of Arvinas by 77.0% in the fourth 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 in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Arvinas by 228.8% in the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock valued at $622,000 after buying an additional 22,564 shares in the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on ARVN shares. Wedbush cut Arvinas from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $57.00 to $12.00 in a research report on Wednesday, March 12th. Wells Fargo & Company set a $26.00 price target on Arvinas and gave the stock an “overweight” rating in a research report on Wednesday, March 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. Guggenheim dropped their price target on Arvinas from $57.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Citigroup dropped their price target on Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.47.

Insiders Place Their Bets

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

Arvinas Stock Up 3.3 %

NASDAQ:ARVN opened at $8.70 on Thursday. The stock’s 50 day moving average price is $16.65 and its 200 day moving average price is $21.50. The company has a market capitalization of $598.32 million, a PE ratio of -3.14 and a beta of 1.95. Arvinas, Inc. has a 52-week low of $7.91 and a 52-week high of $44.85.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm posted ($2.53) EPS. As a group, sell-side analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current fiscal 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.