American Century Companies Inc. Has $22.83 Million Holdings in Arvinas, Inc. (NASDAQ:ARVN)

Posted by on Aug 31st, 2023

American Century Companies Inc. cut its holdings in Arvinas, Inc. (NASDAQ:ARVN – Free Report) by 9.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 835,880 shares of the company’s stock after selling 89,538 shares during the quarter. American Century Companies Inc. owned approximately 1.57% of Arvinas worth $22,827,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ARVN. Royal Bank of Canada lifted its stake 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 acquiring an additional 336 shares during the period. Arizona State Retirement System lifted its stake in shares of Arvinas by 3.9% in the fourth quarter. Arizona State Retirement System now owns 12,761 shares of the company’s stock worth $437,000 after acquiring an additional 480 shares during the period. Occudo Quantitative Strategies LP lifted its stake in shares of Arvinas by 9.4% in the second quarter. Occudo Quantitative Strategies LP now owns 6,514 shares of the company’s stock worth $274,000 after acquiring an additional 559 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Arvinas by 4.5% in the fourth quarter. Principal Financial Group Inc. now owns 13,816 shares of the company’s stock worth $473,000 after acquiring an additional 600 shares during the period. Finally, Citigroup Inc. lifted its stake in shares of Arvinas by 11.7% in the first quarter. Citigroup Inc. now owns 7,040 shares of the company’s stock worth $192,000 after acquiring an additional 736 shares during the period. 86.33% of the stock is owned by institutional investors and hedge funds.

Arvinas Stock Up 2.9 %

Shares of NASDAQ:ARVN opened at $27.24 on Thursday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -4.87 and a beta of 1.74. Arvinas, Inc. has a 12-month low of $21.21 and a 12-month high of $57.96. The business’s 50 day moving average is $24.77 and its 200 day moving average is $26.51.

Arvinas (NASDAQ:ARVN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($1.25) earnings per share for the quarter, topping the consensus estimate of ($1.65) by $0.40. Arvinas had a negative return on equity of 55.09% and a negative net margin of 191.63%. The business had revenue of $54.50 million for the quarter, compared to analysts’ expectations of $30.94 million. During the same quarter in the previous year, the firm earned ($1.32) earnings per share. The business’s revenue was up 74.1% on a year-over-year basis. As a group, equities research analysts expect that Arvinas, Inc. will post -6.14 earnings per share for the current year.

Insiders Place Their Bets

In other Arvinas news, insider Ronald Peck sold 1,324 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $24.39, for a total value of $32,292.36. Following the transaction, the insider now owns 29,965 shares of the company’s stock, valued at $730,846.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ARVN shares. Piper Sandler lowered their target price on Arvinas from $81.00 to $70.00 in a report on Wednesday, August 9th. Oppenheimer reiterated an “outperform” rating and issued a $95.00 target price on shares of Arvinas in a report on Wednesday, August 9th. Citigroup lowered their target price on Arvinas from $77.00 to $72.00 and set a “buy” rating for the company in a report on Monday, August 21st. Morgan Stanley lowered their target price on Arvinas from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Monday, August 14th. Finally, Stifel Nicolaus decreased their price objective on Arvinas from $75.00 to $72.00 in a report on Monday, May 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

Get Our Latest Stock Analysis on ARVN

Arvinas Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arvinas (NASDAQ:ARVN)

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