Randy Teel Sells 2,209 Shares of Arvinas (NASDAQ:ARVN) Stock

Arvinas, Inc. (NASDAQ:ARVN) CEO Randy Teel sold 2,209 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $9.04, for a total value of $19,969.36. Following the sale, the chief executive officer owned 285,009 shares of the company’s stock, valued at $2,576,481.36. The trade was a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Randy Teel also recently made the following trade(s):

• On Monday, May 11th, Randy Teel sold 9,657 shares of Arvinas stock. The stock was sold at an average price of $9.94, for a total value of $95,990.58.
• On Monday, February 23rd, Randy Teel sold 4,786 shares of Arvinas stock. The stock was sold at an average price of $12.16, for a total value of $58,197.76.

Arvinas Stock Performance

Shares of NASDAQ:ARVN opened at $9.09 on Friday. Arvinas, Inc. has a 1 year low of $6.05 and a 1 year high of $14.51. The stock has a market capitalization of $586.49 million, a P/E ratio of -2.74 and a beta of 1.79. The stock has a 50-day simple moving average of $10.50 and a 200-day simple moving average of $11.64.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, May 12th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.05. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The business had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $16.61 million. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s revenue for the quarter was down 91.7% on a year-over-year basis. Analysts predict that Arvinas, Inc. will post -2.85 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its position in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after purchasing an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after purchasing an additional 3,500 shares in the last quarter. State of Wyoming acquired a new position in shares of Arvinas in the 3rd quarter valued at approximately $68,000. Abel Hall LLC acquired a new position in shares of Arvinas in the 4th quarter valued at approximately $125,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Arvinas in the 4th quarter valued at approximately $127,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ARVN shares. Truist Financial set a $10.00 price target on Arvinas in a report on Wednesday, March 18th. Piper Sandler restated an “overweight” rating and issued a $20.00 price target (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Zacks Research cut Arvinas from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. BTIG Research upped their price target on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Barclays upped their price target on Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.69.

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.