Tower Research Capital LLC TRC Purchases New Position in Arvinas Inc (NASDAQ:ARVN)

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Tower Research Capital LLC TRC purchased a new stake in Arvinas Inc (NASDAQ:ARVN) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,194 shares of the company’s stock, valued at approximately $47,000.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Arvinas by 21.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,358 shares of the company’s stock valued at $317,000 after acquiring an additional 2,387 shares during the last quarter. Bank of America Corp DE lifted its stake in Arvinas by 14,782.2% in the second quarter. Bank of America Corp DE now owns 232,609 shares of the company’s stock worth $5,116,000 after purchasing an additional 231,046 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Arvinas by 137.7% in the second quarter. Bank of New York Mellon Corp now owns 56,505 shares of the company’s stock worth $1,243,000 after purchasing an additional 32,733 shares during the last quarter. Swiss National Bank bought a new stake in Arvinas in the second quarter worth about $462,000. Finally, BlackRock Inc. lifted its stake in Arvinas by 124.5% in the second quarter. BlackRock Inc. now owns 1,038,838 shares of the company’s stock worth $22,845,000 after purchasing an additional 576,137 shares during the last quarter. 47.79% of the stock is owned by hedge funds and other institutional investors.

Arvinas stock opened at $37.94 on Tuesday. The company has a 50 day moving average price of $25.81 and a 200-day moving average price of $23.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.79 and a current ratio of 6.79. Arvinas Inc has a fifty-two week low of $10.19 and a fifty-two week high of $39.33. The company has a market capitalization of $1.30 billion, a PE ratio of -1.49 and a beta of 2.73.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.67. Arvinas had a negative net margin of 157.34% and a negative return on equity of 31.57%. The firm had revenue of $30.05 million during the quarter, compared to the consensus estimate of $11.42 million. On average, analysts forecast that Arvinas Inc will post -1.36 earnings per share for the current year.

In other news, CFO Sean A. Cassidy sold 10,000 shares of Arvinas stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $32.00, for a total transaction of $320,000.00. Following the completion of the sale, the chief financial officer now owns 159,115 shares of the company’s stock, valued at $5,091,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Liam Ratcliffe purchased 680,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were bought at an average cost of $22.00 per share, with a total value of $14,960,000.00. The disclosure for this purchase can be found here. Insiders have sold 30,000 shares of company stock valued at $818,600 in the last ninety days. Insiders own 31.77% of the company’s stock.

Several analysts have issued reports on ARVN shares. Goldman Sachs Group raised shares of Arvinas from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $23.00 to $38.00 in a research note on Thursday, October 24th. Roth Capital started coverage on shares of Arvinas in a research note on Thursday, November 14th. They issued a “buy” rating and a $35.00 price objective for the company. Piper Jaffray Companies reissued a “buy” rating and issued a $35.00 price objective (up previously from $32.00) on shares of Arvinas in a research note on Wednesday, November 13th. BMO Capital Markets started coverage on shares of Arvinas in a research note on Thursday, September 12th. They issued an “outperform” rating and a $34.00 price objective for the company. Finally, Wedbush started coverage on shares of Arvinas in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $38.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Arvinas currently has a consensus rating of “Buy” and a consensus target price of $34.67.

About Arvinas

Arvinas, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead products include ARV-110, proteolysis targeting chimeras (PROTAC) 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 targeting the estrogen receptor protein for the treatment of women with metastatic ER positive/HER2 negative breast cancer.

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Institutional Ownership by Quarter for Arvinas (NASDAQ:ARVN)

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