JPMorgan Chase & Co. Has $1.83 Million Stock Holdings in Arvinas, Inc. $ARVN

JPMorgan Chase & Co. lifted its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 475.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 214,779 shares of the company’s stock after buying an additional 177,460 shares during the period. JPMorgan Chase & Co. owned about 0.33% of Arvinas worth $1,830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ARVN. TCG Crossover Management LLC acquired a new stake in shares of Arvinas in the third quarter worth $13,780,000. Balyasny Asset Management L.P. boosted its position in shares of Arvinas by 469.1% in the third quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after buying an additional 995,125 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Arvinas by 154.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after buying an additional 903,337 shares during the period. Millennium Management LLC boosted its position in shares of Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after buying an additional 885,483 shares during the period. Finally, Armistice Capital LLC boosted its position in shares of Arvinas by 114.3% in the third quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock worth $10,224,000 after buying an additional 640,000 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Stock Up 1.3%

Arvinas stock opened at $11.37 on Wednesday. The company’s fifty day simple moving average is $12.27 and its 200-day simple moving average is $11.45. Arvinas, Inc. has a 12 month low of $5.90 and a 12 month high of $14.51. The stock has a market cap of $727.24 million, a P/E ratio of -8.88 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.55). Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The company had revenue of $9.50 million for the quarter, compared to analysts’ expectations of $37.26 million. During the same quarter in the prior year, the firm earned ($0.63) earnings per share. The company’s revenue was down 84.0% on a year-over-year basis. On average, equities research analysts expect that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arvinas news, Director Briggs Morrison acquired 20,000 shares of Arvinas stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $13.40 per share, with a total value of $268,000.00. Following the purchase, the director owned 96,021 shares in the company, valued at approximately $1,286,681.40. This trade represents a 26.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Noah Berkowitz sold 6,435 shares of Arvinas stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $11.10, for a total transaction of $71,428.50. Following the completion of the sale, the insider directly owned 202,503 shares of the company’s stock, valued at approximately $2,247,783.30. The trade was a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 63,864 shares of company stock worth $802,443 in the last 90 days. 4.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ARVN has been the topic of several research analyst reports. Barclays boosted their price target on shares of Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Piper Sandler restated an “overweight” rating and set a $20.00 price target (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Citigroup boosted their price target on shares of Arvinas from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Arvinas in a report on Monday, December 22nd. Finally, Truist Financial set a $10.00 price target on shares of Arvinas in a report on Wednesday, March 18th. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.88.

About Arvinas

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.