Arvinas, Inc. (NASDAQ:ARVN) Stake Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in Arvinas, Inc. (NASDAQ:ARVN) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,295 shares of the company’s stock after purchasing an additional 2,280 shares during the period. Teacher Retirement System of Texas’ holdings in Arvinas were worth $274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares during the last quarter. FMR LLC increased its holdings in shares of Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after acquiring an additional 204,317 shares during the period. Barclays PLC boosted its stake in Arvinas by 198.9% during 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 bought a new position in Arvinas in the 4th quarter worth about $479,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Arvinas by 36.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock valued at $2,238,000 after purchasing an additional 24,223 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Wall Street Analyst Weigh In

ARVN has been the subject of a number of recent analyst reports. BMO Capital Markets set a $20.00 price objective on Arvinas and gave the stock an “outperform” rating in a report on Wednesday, March 12th. Stifel Nicolaus lowered their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Barclays cut their price objective on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Citigroup lowered their target price on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, The Goldman Sachs Group lowered shares of Arvinas from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $70.00 to $15.00 in a research note on Thursday, March 13th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Arvinas Stock Performance

Shares of NASDAQ:ARVN opened at $7.03 on Wednesday. Arvinas, Inc. has a one year low of $6.84 and a one year high of $40.16. The company has a market capitalization of $483.47 million, a PE ratio of -2.54 and a beta of 1.95. The stock has a fifty day moving average of $14.82 and a 200-day moving average of $20.39.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the firm posted ($2.53) EPS. As a group, research analysts forecast that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ian Taylor sold 9,020 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the sale, the insider now directly owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the sale, the chief executive officer now owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,230 shares of company stock valued at $769,402. Company insiders own 5.23% of the company’s stock.

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.