Allspring Global Investments Holdings LLC Buys 3,274 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Allspring Global Investments Holdings LLC increased its stake in Arvinas, Inc. (NASDAQ:ARVN) by 39.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,510 shares of the company’s stock after acquiring an additional 3,274 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arvinas were worth $474,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its stake in shares of Arvinas by 96.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company’s stock valued at $27,000 after acquiring an additional 674 shares in the last quarter. BluePath Capital Management LLC bought a new stake in Arvinas during the 3rd quarter valued at $28,000. McGlone Suttner Wealth Management Inc. bought a new stake in Arvinas during the 4th quarter valued at $75,000. Sectoral Asset Management Inc. increased its stake in Arvinas by 13.5% during the 3rd quarter. Sectoral Asset Management Inc. now owns 7,010 shares of the company’s stock valued at $138,000 after purchasing an additional 835 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Arvinas by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,746 shares of the company’s stock valued at $237,000 after purchasing an additional 1,457 shares in the last quarter. Institutional investors own 95.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARVN. Barclays boosted their price target on shares of Arvinas from $26.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. BMO Capital Markets boosted their price target on shares of Arvinas from $89.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group initiated coverage on shares of Arvinas in a research note on Thursday, February 1st. They set a “buy” rating and a $70.00 price target for the company. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Arvinas in a research note on Monday, March 25th. Finally, HC Wainwright reduced their target price on shares of Arvinas from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Arvinas has an average rating of “Moderate Buy” and an average price target of $59.73.

Insider Buying and Selling

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

Arvinas Stock Performance

Shares of NASDAQ:ARVN opened at $31.60 on Friday. The company’s 50-day moving average is $42.34 and its 200 day moving average is $34.48. The company has a market capitalization of $2.16 billion, a P/E ratio of -4.86 and a beta of 1.94. Arvinas, Inc. has a fifty-two week low of $13.57 and a fifty-two week high of $53.08.

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

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.