JPMorgan Chase & Co. Sells 472,225 Shares of Arvinas, Inc. (NASDAQ:ARVN)

JPMorgan Chase & Co. lowered its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 20.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,857,078 shares of the company’s stock after selling 472,225 shares during the period. JPMorgan Chase & Co. owned approximately 2.70% of Arvinas worth $35,600,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ARVN. Wellington Management Group LLP raised its holdings in Arvinas by 23.9% during the 3rd quarter. Wellington Management Group LLP now owns 32,789 shares of the company’s stock valued at $808,000 after acquiring an additional 6,330 shares during the period. Zacks Investment Management raised its stake in shares of Arvinas by 9.8% during the 3rd quarter. Zacks Investment Management now owns 89,827 shares of the company’s stock valued at $2,212,000 after purchasing an additional 8,029 shares during the period. XTX Topco Ltd bought a new stake in shares of Arvinas during the 3rd quarter valued at $453,000. Nomura Asset Management Co. Ltd. lifted its holdings in Arvinas by 36.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock worth $2,238,000 after purchasing an additional 24,223 shares in the last quarter. Finally, Barclays PLC boosted its stake in Arvinas by 198.9% in the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after purchasing an additional 80,984 shares during the period. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Stock Performance

ARVN stock opened at $6.37 on Tuesday. The company has a market capitalization of $438.08 million, a PE ratio of -2.30 and a beta of 2.30. Arvinas, Inc. has a one year low of $6.00 and a one year high of $39.34. The company’s 50 day moving average price is $13.91 and its two-hundred day moving average price is $19.87.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period in the previous year, the firm posted ($2.53) EPS. On average, research analysts predict that Arvinas, Inc. will post -3.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BTIG Research initiated coverage on shares of Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target on the stock. 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. Citigroup decreased their price target on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Morgan Stanley dropped their price objective on Arvinas from $48.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group cut Arvinas from a “buy” rating to a “neutral” rating and lowered their price target for the company from $70.00 to $15.00 in a report on Thursday, March 13th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

Insider Activity

In related news, 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 value of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Noah Berkowitz sold 8,658 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the sale, the insider now directly owns 110,023 shares in the company, valued at approximately $945,097.57. This trade represents a 7.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,230 shares of company stock valued at $769,402. Insiders own 5.23% of the company’s stock.

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.