Handelsbanken Fonder AB Takes Position in Arvinas, Inc. (NASDAQ:ARVN)

Handelsbanken Fonder AB acquired a new stake in shares of Arvinas, Inc. (NASDAQ:ARVN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,725 shares of the company’s stock, valued at approximately $483,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARVN. Federated Hermes Inc. boosted its stake in Arvinas by 32.4% in the fourth quarter. Federated Hermes Inc. now owns 138,028 shares of the company’s stock valued at $5,681,000 after acquiring an additional 33,770 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Arvinas by 21.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,033 shares of the company’s stock worth $372,000 after buying an additional 1,611 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Arvinas in the fourth quarter worth $277,000. Vontobel Holding Ltd. purchased a new position in shares of Arvinas in the fourth quarter worth $2,717,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Arvinas by 39.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,510 shares of the company’s stock worth $474,000 after buying an additional 3,274 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arvinas news, CFO Sean A. Cassidy sold 1,702 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $80,079.10. Following the sale, the chief financial officer now directly owns 181,916 shares of the company’s stock, valued at approximately $8,559,147.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John G. Houston sold 5,196 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $244,471.80. Following the sale, the chief executive officer now directly owns 1,036,681 shares of the company’s stock, valued at $48,775,841.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sean A. Cassidy sold 1,702 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the sale, the chief financial officer now directly owns 181,916 shares in the company, valued at $8,559,147.80. The disclosure for this sale can be found here. Insiders have sold 8,597 shares of company stock valued at $404,489 in the last ninety days. Insiders own 5.23% of the company’s stock.

Arvinas Stock Up 2.2 %

Shares of ARVN opened at $32.48 on Thursday. The company has a 50-day simple moving average of $40.75 and a 200-day simple moving average of $34.97. The company has a market capitalization of $2.22 billion, a PE ratio of -5.00 and a beta of 1.94. Arvinas, Inc. has a 52-week low of $13.57 and a 52-week high of $53.08.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 27th. The company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($1.38). Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. The business had revenue of ($43.10) million for the quarter, compared to analysts’ expectations of $38.91 million. During the same quarter last year, the business posted ($1.56) earnings per share. On average, research analysts anticipate that Arvinas, Inc. will post -5.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Arvinas in a report on Thursday, February 22nd. The Goldman Sachs Group began coverage on shares of Arvinas in a report on Thursday, February 1st. They set a “buy” rating and a $70.00 target price for the company. BMO Capital Markets raised their target price on shares of Arvinas from $89.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Truist Financial reissued a “buy” rating and set a $65.00 target price on shares of Arvinas in a report on Monday, March 25th. Finally, Oppenheimer reissued an “outperform” rating and set a $80.00 target price (down previously from $95.00) on shares of Arvinas in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.73.

Arvinas 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.