Globeflex Capital L P Makes New $493,000 Investment in Arvinas, Inc. $ARVN

Globeflex Capital L P purchased a new position in shares of Arvinas, Inc. (NASDAQ:ARVN) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 59,331 shares of the company’s stock, valued at approximately $493,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Arvinas in the second quarter valued at about $63,232,000. Armistice Capital LLC grew its position in Arvinas by 50.0% during the fourth quarter. Armistice Capital LLC now owns 1,800,000 shares of the company’s stock worth $21,348,000 after buying an additional 600,000 shares during the period. TCG Crossover Management LLC purchased a new position in Arvinas in the third quarter valued at about $13,780,000. Qube Research & Technologies Ltd increased its holdings in Arvinas by 154.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock valued at $12,668,000 after buying an additional 903,337 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after buying an additional 885,483 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Insider Activity

In related news, CFO Andrew Saik sold 5,696 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total value of $46,479.36. Following the sale, the chief financial officer owned 187,432 shares of the company’s stock, valued at approximately $1,529,445.12. This represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 7.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ARVN has been the topic of several research analyst reports. Zacks Research raised Arvinas from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Wedbush upped their price target on Arvinas from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $11.00 price objective (down from $15.00) on shares of Arvinas in a research note on Tuesday, August 4th. Weiss Ratings raised Arvinas from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, August 13th. Finally, Morgan Stanley set a $10.00 target price on Arvinas in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.17.

Arvinas Trading Up 2.8%

NASDAQ:ARVN opened at $9.60 on Wednesday. The company has a market capitalization of $619.39 million, a P/E ratio of 96.01 and a beta of 1.71. The firm has a 50-day moving average price of $8.45 and a two-hundred day moving average price of $9.89. Arvinas, Inc. has a twelve month low of $6.97 and a twelve month high of $14.51.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $2.95. The company had revenue of $249.70 million for the quarter, compared to the consensus estimate of $60.71 million. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. The company’s revenue for the quarter was up 1014.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.84) earnings per share. On average, equities research analysts predict that Arvinas, Inc. will post 0.05 earnings per share for the current year.

Arvinas Company Profile

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.