Arvinas, Inc. $ARVN Stock Holdings Increased by Brummer Multi Strategy AB

Brummer Multi Strategy AB grew its position in shares of Arvinas, Inc. (NASDAQ:ARVN) by 71.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 285,076 shares of the company’s stock after acquiring an additional 118,734 shares during the quarter. Arvinas comprises approximately 12.5% of Brummer Multi Strategy AB’s holdings, making the stock its 3rd largest holding. Brummer Multi Strategy AB owned 0.44% of Arvinas worth $3,022,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARVN. Tower Research Capital LLC TRC raised its stake in Arvinas by 491.4% during the second 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 increased its holdings in shares of Arvinas by 109.4% in 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 during the last quarter. Jain Global LLC bought a new stake in shares of Arvinas in the 3rd quarter worth about $95,000. Oxford Asset Management LLP raised its position in shares of Arvinas by 15.5% during the 2nd quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock valued at $123,000 after buying an additional 2,242 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Arvinas during the 3rd quarter valued at about $124,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. BTIG Research lifted their price target on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Citigroup lifted their target price on Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Stephens reissued an “overweight” rating and set a $18.00 target price on shares of Arvinas in a research report on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.42.

Insider Buying and Selling

In related news, CFO Andrew Saik sold 5,696 shares of the business’s stock in a transaction on 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 owned 187,432 shares in the company, valued at $1,529,445.12. The trade was a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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. Also, CEO Randy Teel sold 9,657 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $9.94, for a total value of $95,990.58. Following the completion of the transaction, the chief executive officer directly owned 287,218 shares in the company, valued at $2,854,946.92. This trade represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 41,728 shares of company stock valued at $402,649. Insiders own 7.30% of the company’s stock.

Arvinas Price Performance

Arvinas stock opened at $8.03 on Friday. The firm has a market capitalization of $518.10 million, a P/E ratio of -2.42 and a beta of 1.74. Arvinas, Inc. has a 1-year low of $6.05 and a 1-year high of $14.51. The company’s 50-day moving average is $8.34 and its 200 day moving average is $10.64.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.95) by $0.05. The business had revenue of $15.60 million during the quarter, compared to analyst estimates of $16.61 million. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The company’s revenue for the quarter was down 91.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. Research analysts anticipate that Arvinas, Inc. will post -2.82 earnings per share for the current fiscal year.

Arvinas 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.