SG Americas Securities LLC Purchases Shares of 52,980 Arvinas, Inc. $ARVN

SG Americas Securities LLC purchased a new position in 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 purchased 52,980 shares of the company’s stock, valued at approximately $390,000.

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

Analyst Upgrades and Downgrades

ARVN has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Stephens lifted their price target on Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. BTIG Research increased their price objective on Arvinas from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Wedbush restated a “neutral” rating and issued a $9.00 price objective on shares of Arvinas in a research note on Thursday, November 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price on shares of Arvinas in a report 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $16.39.

Arvinas Stock Performance

Shares of ARVN opened at $12.52 on Friday. The business’s 50-day moving average is $9.95 and its two-hundred day moving average is $8.28. The company has a market capitalization of $804.03 million, a P/E ratio of -15.46 and a beta of 2.38. Arvinas, Inc. has a fifty-two week low of $5.90 and a fifty-two week high of $27.00.

Arvinas (NASDAQ:ARVN) last issued its 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. The firm had revenue of $41.90 million for the quarter, compared to the consensus estimate of $29.36 million. Arvinas had a negative return on equity of 9.77% and a negative net margin of 18.73%.The company’s revenue was down 59.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.68) earnings per share. Analysts forecast that Arvinas, Inc. will post -3.81 EPS for the current year.

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

Insider Buying and Selling

In related news, Director Briggs Morrison acquired 30,000 shares of the stock in a transaction on Monday, September 22nd. The shares were acquired at an average price of $7.57 per share, for a total transaction of $227,100.00. Following the transaction, the director owned 76,021 shares in the company, valued at approximately $575,478.97. This trade represents a 65.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.73% of the company’s stock.

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.