Tema Etfs LLC Acquires New Shares in Arvinas, Inc. $ARVN

Tema Etfs LLC bought a new stake in Arvinas, Inc. (NASDAQ:ARVN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,801 shares of the company’s stock, valued at approximately $579,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. TCG Crossover Management LLC acquired a new position in shares of Arvinas during the 3rd quarter worth about $13,780,000. Qube Research & Technologies Ltd raised its position in shares of Arvinas by 154.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock valued at $12,668,000 after acquiring an additional 903,337 shares during the period. Millennium Management LLC boosted its stake in Arvinas by 208.4% during the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after acquiring an additional 885,483 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Arvinas by 469.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after acquiring an additional 995,125 shares during the last quarter. Finally, Armistice Capital LLC grew its holdings in Arvinas by 114.3% during the third quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock valued at $10,224,000 after purchasing an additional 640,000 shares during the period. Institutional investors own 95.19% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Andrew Saik sold 5,134 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $11.89, for a total value of $61,043.26. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Noah Berkowitz sold 6,435 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $11.10, for a total value of $71,428.50. Following the transaction, the insider owned 202,503 shares of the company’s stock, valued at approximately $2,247,783.30. This trade represents a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 63,864 shares of company stock worth $802,443 in the last ninety days. 4.73% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial set a $10.00 target price on shares of Arvinas in a research note on Wednesday, March 18th. Wall Street Zen lowered shares of Arvinas from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Barclays upped their price objective on shares of Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Finally, Citigroup lifted their target price on Arvinas from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Ten 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’s stock. According to MarketBeat, Arvinas has an average rating of “Hold” and a consensus price target of $13.88.

Arvinas Stock Performance

Shares of ARVN stock opened at $10.85 on Friday. The company has a market capitalization of $693.97 million, a P/E ratio of -8.48 and a beta of 1.97. The company’s 50 day moving average price is $12.40 and its two-hundred day moving average price is $11.32. Arvinas, Inc. has a 52 week low of $5.90 and a 52 week high of $14.51.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $37.26 million. During the same quarter last year, the company earned ($0.63) EPS. The firm’s quarterly revenue was down 84.0% compared to the same quarter last year. Analysts forecast that Arvinas, Inc. will post -3.81 earnings per share for the current 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.