ArrowMark Colorado Holdings LLC Boosts Stake in Arvinas, Inc. (NASDAQ:ARVN)

ArrowMark Colorado Holdings LLC lifted its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 42.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,776,555 shares of the company’s stock after purchasing an additional 532,105 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Arvinas were worth $34,057,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. KBC Group NV grew its stake in Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after purchasing an additional 1,255 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Arvinas in the fourth quarter worth $171,000. Teacher Retirement System of Texas lifted its position in Arvinas by 19.0% in the 4th quarter. Teacher Retirement System of Texas now owns 14,295 shares of the company’s stock valued at $274,000 after purchasing an additional 2,280 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Arvinas by 10.4% during 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 during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Arvinas during the 4th quarter valued at $332,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Stock Performance

Shares of NASDAQ:ARVN opened at $7.72 on Friday. The firm has a 50 day simple moving average of $9.66 and a 200 day simple moving average of $17.51. Arvinas, Inc. has a 52 week low of $5.94 and a 52 week high of $37.38. The company has a market cap of $530.92 million, a PE ratio of -2.79 and a beta of 2.30.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter last year, the business earned ($0.97) EPS. The firm’s revenue was up 646.2% compared to the same quarter last year. On average, equities analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Insider Transactions at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the company’s 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 transaction, the insider now owns 110,023 shares in the company, valued at approximately $945,097.57. This represents a 7.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $16.72, for a total transaction of $523,971.36. Following 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 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 over the last three months. 5.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Arvinas from $26.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday. Truist Financial dropped their price objective on Arvinas from $65.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Wedbush cut Arvinas from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $57.00 to $12.00 in a research note on Wednesday, March 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $10.00 price target (down from $52.00) on shares of Arvinas in a research report on Friday. Finally, BMO Capital Markets set a $20.00 price target on shares of Arvinas and gave the company an “outperform” rating in a report on Wednesday, March 12th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.82.

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.