BNP Paribas Financial Markets Purchases 7,243 Shares of Arvinas, Inc. (NASDAQ:ARVN)

BNP Paribas Financial Markets grew its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 19.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,592 shares of the company’s stock after buying an additional 7,243 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.06% of Arvinas worth $855,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Invesco Ltd. lifted its holdings in Arvinas by 1.6% during the 4th quarter. Invesco Ltd. now owns 37,254 shares of the company’s stock worth $714,000 after buying an additional 581 shares in the last quarter. Rhumbline Advisers boosted its holdings in Arvinas by 0.9% in the fourth quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock valued at $1,685,000 after acquiring an additional 754 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Arvinas by 0.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock valued at $2,694,000 after acquiring an additional 777 shares during the last quarter. Bank of Montreal Can increased its position in Arvinas by 2.7% in the fourth quarter. Bank of Montreal Can now owns 39,407 shares of the company’s stock worth $755,000 after purchasing an additional 1,044 shares during the period. Finally, KBC Group NV raised its holdings in Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after purchasing an additional 1,255 shares during the last quarter. 95.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ARVN shares. Citigroup reduced their target price on shares of Arvinas from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Oppenheimer cut shares of Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Jefferies Financial Group reaffirmed a “hold” rating and set a $10.00 target price (down previously from $52.00) on shares of Arvinas in a report on Friday, May 2nd. Wells Fargo & Company cut their price target on Arvinas from $26.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $14.00 price objective (down from $24.00) on shares of Arvinas in a research note on Friday, May 2nd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Arvinas has an average rating of “Moderate Buy” and a consensus price target of $20.92.

Insider Activity

In related news, insider Ian Taylor sold 9,020 shares of the stock in a transaction dated 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 directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. This trade represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total value of $74,372.22. Following the completion of the sale, the insider now owns 110,023 shares in the company, valued at $945,097.57. The trade was a 7.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,230 shares of company stock worth $769,402 over the last quarter. 4.73% of the stock is currently owned by company insiders.

Arvinas Price Performance

NASDAQ ARVN opened at $6.25 on Thursday. Arvinas, Inc. has a one year low of $5.90 and a one year high of $37.38. The firm has a market cap of $456.19 million, a P/E ratio of -2.26 and a beta of 2.21. The stock’s 50-day moving average is $7.56 and its 200-day moving average is $15.69.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter in the previous year, the business posted ($0.97) earnings per share. The company’s revenue for the quarter was up 646.2% compared to the same quarter last year. Equities analysts anticipate that Arvinas, Inc. will post -3.81 EPS 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.