Arvinas, Inc. (NASDAQ:ARVN) Position Decreased by Skandinaviska Enskilda Banken AB publ

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN – Get Rating) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,898 shares of the company’s stock after selling 1,152 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Arvinas were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in shares of Arvinas during the 1st quarter valued at about $57,000. New England Capital Financial Advisors LLC acquired a new position in shares of Arvinas in the fourth quarter worth about $34,000. Royal Bank of Canada boosted its holdings in shares of Arvinas by 37.6% in the third quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock worth $54,000 after buying an additional 336 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Arvinas by 25.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,384 shares of the company’s stock worth $69,000 after buying an additional 284 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Arvinas in the third quarter worth about $95,000. Institutional investors own 92.03% of the company’s stock.

Arvinas Stock Performance

Shares of ARVN opened at $23.18 on Friday. The firm has a market cap of $1.24 billion, a PE ratio of -4.10 and a beta of 1.75. The firm’s 50 day moving average price is $27.23 and its 200 day moving average price is $33.91. Arvinas, Inc. has a twelve month low of $22.10 and a twelve month high of $58.58.

Arvinas (NASDAQ:ARVN – Get Rating) last released its quarterly earnings results on Friday, May 5th. The company reported ($1.54) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.05). Arvinas had a negative net margin of 227.86% and a negative return on equity of 48.63%. The firm had revenue of $32.50 million during the quarter, compared to the consensus estimate of $27.74 million. During the same period in the prior year, the business earned ($1.20) EPS. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Arvinas, Inc. will post -6.01 earnings per share for the current fiscal year.

Insider Transactions at Arvinas

In other news, insider Ian Taylor sold 1,051 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $29.53, for a total value of $31,036.03. Following the completion of the sale, the insider now directly owns 101,721 shares in the company, valued at $3,003,821.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO John G. Houston sold 5,878 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $29.53, for a total value of $173,577.34. Following the completion of the sale, the chief executive officer now directly owns 917,427 shares in the company, valued at $27,091,619.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ian Taylor sold 1,051 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $29.53, for a total transaction of $31,036.03. Following the completion of the sale, the insider now owns 101,721 shares of the company’s stock, valued at $3,003,821.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,674 shares of company stock worth $256,143. 2.78% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on ARVN. Citigroup raised their target price on shares of Arvinas from $72.00 to $77.00 in a report on Friday, March 17th. Morgan Stanley decreased their target price on shares of Arvinas from $57.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Arvinas in a report on Tuesday, January 31st. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Arvinas in a research report on Friday, February 24th. Finally, Credit Suisse Group reduced their price target on shares of Arvinas from $81.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, February 24th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.33.

Arvinas 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.

Further Reading

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Institutional Ownership by Quarter for Arvinas (NASDAQ:ARVN)

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