Stonepine Capital Management LLC Makes New Investment in Arvinas, Inc. $ARVN

Stonepine Capital Management LLC purchased a new stake in Arvinas, Inc. (NASDAQ:ARVN) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 60,000 shares of the company’s stock, valued at approximately $498,600,000.

Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in Arvinas by 491.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after buying an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board raised 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 valued at $49,000 after acquiring an additional 3,500 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Arvinas in the 2nd quarter valued at about $85,000. Abel Hall LLC bought a new stake in shares of Arvinas during the 4th quarter valued at about $125,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Arvinas during the 4th quarter valued at about $127,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ARVN has been the topic of several research analyst reports. Citigroup decreased their price objective on shares of Arvinas from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Morgan Stanley set a $10.00 target price on shares of Arvinas in a research report on Monday, August 10th. Wells Fargo & Company reissued an “equal weight” rating and issued a $11.00 price target (down from $15.00) on shares of Arvinas in a research note on Tuesday, August 4th. Evercore set a $14.00 price target on shares of Arvinas in a report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Arvinas from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, August 13th. One 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 given a Sell rating to the stock. According to data from MarketBeat, Arvinas has a consensus rating of “Hold” and a consensus price target of $14.17.

Insider Buying and Selling at Arvinas

In other 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 value of $46,479.36. Following the completion of the sale, the chief financial officer directly owned 187,432 shares in the company, valued at approximately $1,529,445.12. The trade was a 2.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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. Insiders own 7.30% of the company’s stock.

Arvinas Trading Down 0.9%

Shares of NASDAQ ARVN opened at $9.24 on Friday. The stock’s 50-day moving average is $8.51 and its 200 day moving average is $9.84. The stock has a market cap of $596.16 million, a price-to-earnings ratio of 92.41 and a beta of 1.71. Arvinas, Inc. has a 1-year low of $6.97 and a 1-year high of $14.51.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) 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 business had revenue of $249.70 million during the quarter, compared to analyst estimates of $60.71 million. During the same quarter in the prior year, the firm earned ($0.84) earnings per share. Arvinas’s revenue for the quarter was up 1014.7% on a year-over-year basis. On average, analysts forecast that Arvinas, Inc. will post 0.05 EPS 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.