22,233 Shares in Arvinas, Inc. $ARVN Acquired by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd bought a new position in shares of Arvinas, Inc. (NASDAQ:ARVN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,233 shares of the company’s stock, valued at approximately $164,000.

Several other large investors have also modified their holdings of ARVN. Caitong International Asset Management Co. Ltd grew its holdings in shares of Arvinas by 965.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company’s stock worth $33,000 after purchasing an additional 4,219 shares during the period. CWM LLC boosted its stake in Arvinas by 2,317.5% during the first quarter. CWM LLC now owns 7,615 shares of the company’s stock worth $53,000 after buying an additional 7,300 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Arvinas during the second quarter worth about $74,000. Aigen Investment Management LP acquired a new stake in shares of Arvinas during the first quarter valued at about $77,000. Finally, 111 Capital purchased a new stake in shares of Arvinas in the 2nd quarter valued at approximately $95,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Insider Transactions at Arvinas

In other Arvinas news, Director Briggs Morrison acquired 30,000 shares of the stock in a transaction on Monday, September 22nd. The shares were bought at an average cost of $7.57 per share, with a total value of $227,100.00. Following the transaction, the director owned 76,021 shares of the company’s stock, valued at approximately $575,478.97. This trade represents a 65.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARVN. Wedbush reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Arvinas in a research report on Thursday, November 6th. Piper Sandler restated an “overweight” rating and set a $16.00 price target on shares of Arvinas in a research report on Tuesday, October 7th. Barclays lifted their target price on Arvinas from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Bank of America lowered shares of Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Wednesday, September 24th. Finally, Stephens boosted their price target on shares of Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Eleven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arvinas currently has a consensus rating of “Hold” and an average target price of $16.39.

Arvinas Trading Up 4.4%

Shares of Arvinas stock opened at $10.57 on Friday. The company has a fifty day simple moving average of $9.12 and a 200-day simple moving average of $7.96. Arvinas, Inc. has a 12-month low of $5.90 and a 12-month high of $27.00. The stock has a market cap of $678.81 million, a price-to-earnings ratio of -13.05 and a beta of 2.38.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $41.90 million for the quarter, compared to analyst estimates of $29.36 million. During the same period last year, the business earned ($0.68) EPS. Arvinas’s revenue for the quarter was down 59.1% compared to the same quarter last year. On average, analysts forecast that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Arvinas announced that its Board of Directors has authorized a stock repurchase program on Wednesday, September 17th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 17.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.