300,000 Shares in Arvinas, Inc. $ARVN Purchased by Nantahala Capital Management LLC

Nantahala Capital Management LLC acquired a new stake in Arvinas, Inc. (NASDAQ:ARVN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 300,000 shares of the company’s stock, valued at approximately $2,493,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Arvinas during the second quarter worth approximately $63,232,000. TCG Crossover Management LLC acquired a new stake in Arvinas during the third quarter worth approximately $13,780,000. Balyasny Asset Management L.P. grew its position in Arvinas by 469.1% during the third quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after buying an additional 995,125 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Arvinas by 154.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after acquiring an additional 903,337 shares during the period. Finally, Millennium Management LLC increased 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 period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ARVN. BTIG Research reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Arvinas in a report on Tuesday, August 4th. Citigroup decreased their price target on Arvinas from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Wall Street Zen raised Arvinas from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Stephens reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Arvinas in a research note on Wednesday, June 3rd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $11.00 price objective (down from $15.00) on shares of Arvinas in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Arvinas presently has a consensus rating of “Hold” and an average price target of $14.17.

Arvinas Trading Down 0.6%

Shares of ARVN stock opened at $9.18 on Friday. The business’s 50-day moving average price is $8.55 and its 200-day moving average price is $9.83. Arvinas, Inc. has a 12 month low of $6.97 and a 12 month high of $14.51. The firm has a market capitalization of $592.29 million, a price-to-earnings ratio of 91.81 and a beta of 1.71.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of ($0.37) by $2.95. Arvinas had a return on equity of 1.91% and a net margin of 2.94%.The company had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $60.71 million. During the same period in the previous year, the business posted ($0.84) earnings per share. The business’s quarterly revenue was up 1014.7% compared to the same quarter last year. On average, sell-side analysts predict that Arvinas, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arvinas news, CFO Andrew Saik sold 5,696 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total transaction of $46,479.36. Following the sale, the chief financial officer directly owned 187,432 shares of the company’s stock, 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 SEC, which can be accessed through this link. 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 currently owned by corporate insiders.

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.