Intel stock extends gains after report of possible U.S. government stake
Arvinas, Inc. (NASDAQ:ARVN), currently trading at $16.75 and near its 52-week low, recently disclosed in a regulatory filing that Ian Taylor, the company’s President of Research and Development, sold shares worth $150,752. According to InvestingPro analysis, the stock appears undervalued despite falling over 10% in the past week. The transactions, dated February 24, involved the sale of 9,020 shares of common stock at prices ranging from $16.55 to $16.75 per share. Following these sales, Taylor retains ownership of 159,121 shares in the company.
The sales were carried out to cover tax withholding obligations related to the vesting and settlement of Taylor’s restricted stock units (RSUs). Specifically, 7,356 shares were sold to cover tax obligations from RSUs granted on February 23, 2024, and 1,664 shares were sold for RSUs granted on February 22, 2023.
In other recent news, Arvinas Inc. reported its fourth-quarter 2024 earnings, revealing a smaller-than-expected loss per share, with an EPS of -$0.63 compared to the forecasted -$0.96. However, the company’s revenue of $59.2 million fell short of the $62.67 million forecast. Despite the revenue miss, Arvinas maintains over $1 billion in cash, supporting operations into 2027. The company is also anticipating results from its Phase III VERITAC-2 trial for vepdegestrant, expected to impact future revenue. UBS maintained its Buy rating on Arvinas with a $74 price target, citing confidence in the VERITAC-2 study outcomes. Stifel adjusted its price target to $51, maintaining a Buy rating, while H.C. Wainwright reduced its target to $81, also retaining a Buy rating. BMO Capital Markets lowered its price target to $82 but kept an Outperform rating, noting the market undervaluation of Arvinas’ strong financial position and robust portfolio. These developments highlight the cautious optimism among analysts regarding Arvinas’ potential in the competitive cancer therapeutics field.
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