Federated Hermes Inc. Grows Position in Arvinas, Inc. (NASDAQ:ARVN)

Federated Hermes Inc. grew its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 32.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,028 shares of the company’s stock after purchasing an additional 33,770 shares during the quarter. Federated Hermes Inc.’s holdings in Arvinas were worth $5,681,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ARVN. FMR LLC boosted its stake in shares of Arvinas by 10.6% during the third quarter. FMR LLC now owns 4,868,295 shares of the company’s stock valued at $95,613,000 after purchasing an additional 466,667 shares during the period. Vanguard Group Inc. boosted its stake in shares of Arvinas by 2.0% during the third quarter. Vanguard Group Inc. now owns 4,608,223 shares of the company’s stock valued at $90,505,000 after purchasing an additional 90,426 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Arvinas by 18.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 429,990 shares of the company’s stock valued at $8,445,000 after purchasing an additional 66,430 shares during the period. Vontobel Holding Ltd. purchased a new stake in shares of Arvinas during the fourth quarter valued at approximately $2,717,000. Finally, Algert Global LLC lifted its stake in Arvinas by 45.5% in the third quarter. Algert Global LLC now owns 173,418 shares of the company’s stock worth $3,406,000 after acquiring an additional 54,229 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Insider Activity

In other news, CFO Sean A. Cassidy sold 1,702 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 181,916 shares in the company, valued at $8,559,147.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Sean A. Cassidy sold 1,702 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 181,916 shares in the company, valued at $8,559,147.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ronald Peck sold 1,699 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $79,937.95. Following the transaction, the insider now owns 67,516 shares of the company’s stock, valued at $3,176,627.80. The disclosure for this sale can be found here. Insiders sold 8,597 shares of company stock worth $404,489 over the last three months. 5.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ARVN has been the subject of a number of research analyst reports. Wedbush raised their price target on Arvinas from $33.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Citigroup lowered Arvinas from a “buy” rating to a “neutral” rating and raised their price target for the stock from $36.00 to $55.00 in a research note on Wednesday, February 14th. The Goldman Sachs Group initiated coverage on Arvinas in a research note on Thursday, February 1st. They issued a “buy” rating and a $70.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $80.00 price target (down previously from $95.00) on shares of Arvinas in a research note on Wednesday, February 28th. Finally, BMO Capital Markets raised their price target on Arvinas from $89.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.73.

Arvinas Trading Down 2.9 %

Shares of Arvinas stock opened at $31.60 on Friday. Arvinas, Inc. has a 12 month low of $13.57 and a 12 month high of $53.08. The business has a fifty day simple moving average of $42.34 and a two-hundred day simple moving average of $34.48. The firm has a market capitalization of $2.16 billion, a P/E ratio of -4.86 and a beta of 1.94.

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 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 company had revenue of ($43.10) million for the quarter, compared to the consensus estimate of $38.91 million. During the same quarter in the previous year, the business earned ($1.56) earnings per share. Analysts predict that Arvinas, Inc. will post -5.02 earnings per share for the current year.

About Arvinas

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.