Verition Fund Management LLC Sells 41,268 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Verition Fund Management LLC lessened its stake in Arvinas, Inc. (NASDAQ:ARVN) by 54.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 33,999 shares of the company’s stock after selling 41,268 shares during the quarter. Verition Fund Management LLC’s holdings in Arvinas were worth $2,247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers raised its position in shares of Arvinas by 5.7% in the fourth quarter. Rhumbline Advisers now owns 39,192 shares of the company’s stock valued at $3,329,000 after purchasing an additional 2,115 shares during the period. Northern Trust Corp boosted its stake in shares of Arvinas by 17.8% in the 4th quarter. Northern Trust Corp now owns 391,652 shares of the company’s stock valued at $33,264,000 after purchasing an additional 59,046 shares in the last quarter. M&T Bank Corp acquired a new stake in Arvinas during the 4th quarter worth approximately $414,000. The Manufacturers Life Insurance Company boosted its position in Arvinas by 19.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 20,831 shares of the company’s stock worth $1,769,000 after buying an additional 3,458 shares during the period. Finally, LPL Financial LLC bought a new position in Arvinas during the 4th quarter worth approximately $239,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Shares of ARVN opened at $77.55 on Thursday. The business has a 50-day moving average of $74.85. Arvinas, Inc. has a 52 week low of $19.68 and a 52 week high of $92.77.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Monday, May 3rd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.01). The business had revenue of $5.54 million for the quarter, compared to analyst estimates of $3.92 million. Arvinas had a negative return on equity of 33.38% and a negative net margin of 656.61%. As a group, research analysts expect that Arvinas, Inc. will post -3.45 EPS for the current fiscal year.

In other Arvinas news, CEO John G. Houston sold 700 shares of the business’s stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $80.15, for a total value of $56,105.00. Following the completion of the transaction, the chief executive officer now directly owns 828,343 shares in the company, valued at approximately $66,391,691.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ronald Peck sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 30th. The shares were sold at an average price of $76.69, for a total value of $1,533,800.00. Following the completion of the transaction, the insider now owns 22,754 shares of the company’s stock, valued at $1,745,004.26. The disclosure for this sale can be found here. Insiders own 10.99% of the company’s stock.

A number of analysts have commented on ARVN shares. Cantor Fitzgerald boosted their price target on shares of Arvinas from $121.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, March 30th. UBS Group began coverage on shares of Arvinas in a research report on Thursday, May 20th. They issued a “buy” rating and a $123.00 price objective on the stock. Truist started coverage on Arvinas in a research note on Wednesday, April 21st. They issued a “buy” rating and a $150.00 target price for the company. BMO Capital Markets assumed coverage on Arvinas in a research note on Wednesday, March 31st. They issued an “outperform” rating and a $101.00 price target for the company. Finally, Truist Securities initiated coverage on Arvinas in a report on Wednesday, April 21st. They issued a “buy” rating and a $150.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $117.00.

About Arvinas

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead 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; and ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer.

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Institutional Ownership by Quarter for Arvinas (NASDAQ:ARVN)

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