American Century Companies Inc. Sells 58,788 Shares of Arvinas, Inc. (NASDAQ:ARVN)

American Century Companies Inc. lowered its position in shares of Arvinas, Inc. (NASDAQ:ARVN) by 18.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 252,685 shares of the company’s stock after selling 58,788 shares during the quarter. American Century Companies Inc.’s holdings in Arvinas were worth $4,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after acquiring an additional 367,343 shares during the last quarter. FMR LLC grew its stake in Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after purchasing an additional 204,317 shares during the period. Barclays PLC grew its stake in Arvinas by 198.9% in the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after purchasing an additional 80,984 shares during the period. Monaco Asset Management SAM purchased a new stake in shares of Arvinas during the 4th quarter valued at $479,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Arvinas by 36.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock worth $2,238,000 after purchasing an additional 24,223 shares during the period. Institutional investors own 95.19% of the company’s stock.

Insider Activity at Arvinas

In related news, insider Noah Berkowitz sold 8,658 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the sale, the insider now owns 110,023 shares in the company, valued at approximately $945,097.57. This trade represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the sale, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,230 shares of company stock valued at $769,402. Corporate insiders own 5.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ARVN. Oppenheimer lowered shares of Arvinas from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. BTIG Research initiated coverage on shares of Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price for the company. Wells Fargo & Company set a $26.00 price target on shares of Arvinas and gave the stock an “overweight” rating in a research note on Wednesday, March 12th. Wedbush downgraded Arvinas from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $57.00 to $12.00 in a research note on Wednesday, March 12th. Finally, BMO Capital Markets set a $20.00 price objective on Arvinas and gave the company an “outperform” rating in a report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $35.50.

Arvinas Stock Performance

NASDAQ:ARVN opened at $6.56 on Friday. The business’s fifty day moving average is $14.15 and its 200 day moving average is $20.04. The firm has a market cap of $451.14 million, a price-to-earnings ratio of -2.37 and a beta of 2.30. Arvinas, Inc. has a 52-week low of $6.24 and a 52-week high of $39.34.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter last year, the firm posted ($2.53) earnings per share. Equities analysts predict that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

About Arvinas

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.