Cornercap Investment Counsel Inc. Buys Shares of 6,727 Arvinas, Inc. (NASDAQ:ARVN)

Cornercap Investment Counsel Inc. bought a new stake in shares of Arvinas, Inc. (NASDAQ:ARVN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 6,727 shares of the company’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ARVN. Raymond James & Associates raised its position in shares of Arvinas by 21.3% during the 1st quarter. Raymond James & Associates now owns 6,686 shares of the company’s stock valued at $450,000 after acquiring an additional 1,172 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Arvinas by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 25,350 shares of the company’s stock valued at $1,706,000 after buying an additional 9,039 shares during the period. Rhumbline Advisers grew its holdings in shares of Arvinas by 3.1% in the 1st quarter. Rhumbline Advisers now owns 49,324 shares of the company’s stock valued at $3,320,000 after buying an additional 1,479 shares during the period. BlackRock Inc. grew its holdings in shares of Arvinas by 0.6% in the 1st quarter. BlackRock Inc. now owns 3,525,259 shares of the company’s stock valued at $237,251,000 after buying an additional 19,519 shares during the period. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Arvinas by 743.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 17,786 shares of the company’s stock valued at $1,271,000 after buying an additional 15,678 shares during the period. Institutional investors own 95.19% of the company’s stock.

Insider Activity

In other news, CEO John G. Houston sold 5,196 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $244,471.80. Following the sale, the chief executive officer now directly owns 1,036,681 shares of the company’s stock, valued at approximately $48,775,841.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arvinas news, CEO John G. Houston sold 5,196 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $244,471.80. Following the transaction, the chief executive officer now directly owns 1,036,681 shares of the company’s stock, valued at approximately $48,775,841.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sean A. Cassidy sold 1,702 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the transaction, the chief financial officer now directly owns 181,916 shares in the company, valued at $8,559,147.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,597 shares of company stock valued at $404,489. 2.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARVN. The Goldman Sachs Group began coverage on shares of Arvinas in a report on Thursday, February 1st. They issued a “buy” rating and a $70.00 price target for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Arvinas in a research note on Thursday, February 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $80.00 target price (down from $95.00) on shares of Arvinas in a research note on Wednesday, February 28th. Wedbush upped their target price on shares of Arvinas from $33.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Finally, Barclays upped their target price on shares of Arvinas from $26.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

Arvinas Stock Performance

Shares of ARVN stock opened at $33.45 on Thursday. The firm’s 50-day moving average is $43.86 and its 200-day moving average is $33.94. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -5.15 and a beta of 1.94. Arvinas, Inc. has a 52-week low of $13.57 and a 52-week high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 27th. The company reported ($2.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.15) by ($1.38). The firm had revenue of ($43.10) million during the quarter, compared to the consensus estimate of $38.91 million. Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. During the same period in the previous year, the company posted ($1.56) earnings per share. Sell-side analysts predict that Arvinas, Inc. will post -5.02 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.