Arvinas, Inc. $ARVN Shares Acquired by Monaco Asset Management SAM

Monaco Asset Management SAM lifted its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 185.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 900,936 shares of the company’s stock after acquiring an additional 585,477 shares during the period. Arvinas makes up about 1.2% of Monaco Asset Management SAM’s investment portfolio, making the stock its 9th largest holding. Monaco Asset Management SAM’s holdings in Arvinas were worth $6,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. 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 purchasing an additional 1,267,593 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Arvinas in the second quarter valued at $404,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Arvinas in the 2nd quarter valued at $634,000. Los Angeles Capital Management LLC increased its stake in Arvinas by 41.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 39,801 shares of the company’s stock valued at $293,000 after buying an additional 11,740 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Arvinas during the 2nd quarter worth about $1,073,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arvinas

In related news, Director Briggs Morrison acquired 30,000 shares of the stock in a transaction on Monday, September 22nd. The shares were purchased at an average price of $7.57 per share, for a total transaction of $227,100.00. Following the purchase, the director directly owned 76,021 shares in the company, valued at approximately $575,478.97. The trade was a 65.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.73% of the stock is owned by corporate insiders.

Arvinas Price Performance

ARVN opened at $10.63 on Friday. The business has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $7.91. Arvinas, Inc. has a 1 year low of $5.90 and a 1 year high of $28.70. The company has a market capitalization of $682.66 million, a PE ratio of -13.12 and a beta of 2.38.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.27. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The business had revenue of $41.90 million for the quarter, compared to analyst estimates of $29.36 million. During the same period last year, the firm earned ($0.68) earnings per share. Arvinas’s revenue for the quarter was down 59.1% compared to the same quarter last year. Equities analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Arvinas declared that its board has approved a share buyback plan on Wednesday, September 17th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 17.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

ARVN has been the subject of several analyst reports. Guggenheim decreased their price objective on Arvinas from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 7th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $6.00 price target (down previously from $8.00) on shares of Arvinas in a research report on Wednesday, October 15th. Wells Fargo & Company dropped their price objective on Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays increased their price objective on Arvinas from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Piper Sandler reissued an “overweight” rating and issued a $16.00 target price on shares of Arvinas in a research note on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.34.

Arvinas Company Profile

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body’s own natural protein disposal system to degrade and remove disease-causing proteins.