Man Group plc Acquires New Position in Arvinas, Inc. $ARVN

Man Group plc acquired a new stake in shares of Arvinas, Inc. (NASDAQ:ARVN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 256,104 shares of the company’s stock, valued at approximately $2,128,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after purchasing an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Arvinas by 109.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after buying an additional 3,500 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Arvinas during the 2nd quarter worth $85,000. Jain Global LLC bought a new stake in shares of Arvinas during the 3rd quarter worth $95,000. Finally, Portland Investment Counsel Inc. acquired a new stake in Arvinas in the second quarter valued at about $116,000. 95.19% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Andrew Saik sold 5,696 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total transaction of $46,479.36. Following the completion of the transaction, the chief financial officer directly owned 187,432 shares in the company, valued at $1,529,445.12. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARVN. Zacks Research upgraded Arvinas from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Arvinas from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Morgan Stanley set a $10.00 price target on shares of Arvinas in a report on Monday, August 10th. BTIG Research reiterated a “buy” rating and set a $18.00 price objective on shares of Arvinas in a research report on Tuesday, August 4th. Finally, Evercore set a $14.00 price objective on shares of Arvinas in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.17.

Arvinas Stock Up 0.9%

Shares of Arvinas stock opened at $9.28 on Wednesday. The stock has a market cap of $598.75 million, a price-to-earnings ratio of 92.81 and a beta of 1.71. Arvinas, Inc. has a twelve month low of $6.97 and a twelve month high of $14.51. The company’s fifty day moving average is $8.60 and its 200 day moving average is $9.75.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $2.95. The business had revenue of $249.70 million during the quarter, compared to analyst estimates of $60.71 million. Arvinas had a return on equity of 1.91% and a net margin of 2.94%.Arvinas’s revenue for the quarter was up 1014.7% compared to the same quarter last year. During the same period last year, the company earned ($0.84) EPS. As a group, equities analysts anticipate that Arvinas, Inc. will post 0.05 earnings per share for the current fiscal 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.