Geode Capital Management LLC Decreases Stake in Arvinas, Inc. (NASDAQ:ARVN)

Geode Capital Management LLC reduced its position in Arvinas, Inc. (NASDAQ:ARVN) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,511,014 shares of the company’s stock after selling 8,320 shares during the period. Geode Capital Management LLC owned 2.20% of Arvinas worth $28,973,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ARVN. Norges Bank bought a new stake in shares of Arvinas during the 4th quarter valued at $23,845,000. JPMorgan Chase & Co. grew its holdings in Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares in the last quarter. BIT Capital GmbH increased its position in shares of Arvinas by 291.7% during the fourth quarter. BIT Capital GmbH now owns 263,527 shares of the company’s stock valued at $5,052,000 after buying an additional 196,246 shares during the period. Barclays PLC increased its position in shares of Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after buying an additional 80,984 shares during the period. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Arvinas in the fourth quarter worth about $1,534,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

Arvinas Stock Performance

NASDAQ ARVN opened at $8.60 on Friday. The stock has a 50 day simple moving average of $11.67 and a two-hundred day simple moving average of $18.76. Arvinas, Inc. has a fifty-two week low of $5.94 and a fifty-two week high of $37.38. The stock has a market cap of $591.44 million, a P/E ratio of -3.10 and a beta of 2.30.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period in the prior year, the company posted ($2.53) EPS. Sell-side 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 firm’s stock in a transaction dated Tuesday, March 18th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ian Taylor sold 9,020 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the transaction, the insider now owns 159,121 shares in the company, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,230 shares of company stock valued at $769,402 in the last quarter. 5.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ARVN. Guggenheim decreased their target price on shares of Arvinas from $57.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. The Goldman Sachs Group reduced their price target on shares of Arvinas from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday. Wells Fargo & Company set a $26.00 price objective on Arvinas and gave the stock an “overweight” rating in a research report on Wednesday, March 12th. Morgan Stanley reduced their target price on Arvinas from $48.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Bank of America lowered their price target on Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.33.

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.