Healthcare of Ontario Pension Plan Trust Fund Sells 37,600 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Posted by Defense World Staff on Mar 2nd, 2023

Healthcare of Ontario Pension Plan Trust Fund lowered its position in Arvinas, Inc. (NASDAQ:ARVN – Get Rating) by 83.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,500 shares of the company’s stock after selling 37,600 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Arvinas were worth $334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new position in Arvinas in the second quarter worth approximately $57,000. Lazard Asset Management LLC bought a new stake in Arvinas during the 1st quarter valued at $57,000. Amundi bought a new stake in Arvinas during the 2nd quarter valued at $62,000. Federated Hermes Inc. boosted its position in Arvinas by 80,650.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,615 shares of the company’s stock valued at $68,000 after acquiring an additional 1,613 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Arvinas by 25.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,384 shares of the company’s stock valued at $69,000 after acquiring an additional 284 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARVN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of Arvinas in a research report on Tuesday, January 31st. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Arvinas in a research report on Friday, February 24th. Piper Sandler increased their target price on Arvinas from $76.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, November 22nd. Guggenheim cut Arvinas from a “buy” rating to a “neutral” rating in a research report on Thursday, January 12th. Finally, Truist Financial lowered their price objective on Arvinas from $100.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, January 17th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Arvinas presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.44.

Arvinas Stock Performance

NASDAQ ARVN opened at $30.55 on Thursday. The stock has a 50-day simple moving average of $33.27 and a two-hundred day simple moving average of $40.25. The firm has a market capitalization of $1.63 billion, a P/E ratio of -5.74 and a beta of 1.77. Arvinas, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $75.39.

Arvinas (NASDAQ:ARVN – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.46). Arvinas had a negative net margin of 228.19% and a negative return on equity of 43.79%. The business had revenue of $38.00 million for the quarter, compared to analyst estimates of $35.32 million. During the same quarter last year, the business earned ($1.00) earnings per share. Arvinas’s revenue was up 32.4% on a year-over-year basis. As a group, analysts forecast that Arvinas, Inc. will post -6.01 earnings per share for the current year.

Arvinas Company Profile

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Arvinas, Inc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its product candidates are ARV-110, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer, ARV-471, and ARV-766, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer.