Quantbot Technologies LP Buys New Position in Arvinas, Inc. $ARVN

Quantbot Technologies LP purchased a new position in shares of Arvinas, Inc. (NASDAQ:ARVN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 39,687 shares of the company’s stock, valued at approximately $338,000. Quantbot Technologies LP owned about 0.06% of Arvinas as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in shares of Arvinas by 791.1% in the second quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock valued at $10,498,000 after buying an additional 1,267,593 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Arvinas by 208.4% during the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after buying an additional 885,483 shares during the last quarter. Armistice Capital LLC acquired a new position in Arvinas in the 2nd quarter valued at about $4,122,000. AQR Capital Management LLC increased its position in Arvinas by 493.2% in the 2nd quarter. AQR Capital Management LLC now owns 614,457 shares of the company’s stock valued at $4,522,000 after acquiring an additional 510,881 shares during the period. Finally, Velan Capital Investment Management LP purchased a new stake in Arvinas during the 2nd quarter valued at approximately $3,680,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Insider Activity at Arvinas

In related news, CEO Randy Teel sold 4,786 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $12.16, for a total value of $58,197.76. Following the completion of the transaction, the chief executive officer directly owned 149,696 shares of the company’s stock, valued at $1,820,303.36. This trade represents a 3.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew Saik sold 5,134 shares of Arvinas stock in a transaction on Friday, February 13th. The stock was sold at an average price of $11.89, for a total value of $61,043.26. Following the transaction, the chief financial officer directly owned 159,267 shares of the company’s stock, valued at approximately $1,893,684.63. This represents a 3.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 57,429 shares of company stock valued at $731,014 in the last ninety days. Company insiders own 4.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $20.00 price objective (up from $16.00) on shares of Arvinas in a research report on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Arvinas in a research note on Monday, December 22nd. Barclays increased their price target on Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Wall Street Zen lowered shares of Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Finally, Wedbush boosted their price objective on shares of Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.65.

Arvinas Stock Performance

Shares of NASDAQ ARVN opened at $13.83 on Wednesday. The firm has a market capitalization of $884.57 million, a P/E ratio of -10.80 and a beta of 1.87. Arvinas, Inc. has a one year low of $5.90 and a one year high of $14.51. The company’s fifty day moving average is $12.69 and its two-hundred day moving average is $10.96.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.55). Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The company had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $37.26 million. During the same quarter in the prior year, the business earned ($0.63) EPS. The business’s revenue for the quarter was down 84.0% compared to the same quarter last year. On average, sell-side analysts forecast that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

About Arvinas

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.