Boxer Capital Management LLC Invests $20.29 Million in Arvinas, Inc. (NASDAQ:ARVN)

Boxer Capital Management LLC acquired a new position in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,058,614 shares of the company's stock, valued at approximately $20,294,000. Arvinas accounts for 1.7% of Boxer Capital Management LLC's investment portfolio, making the stock its 18th biggest holding. Boxer Capital Management LLC owned 1.54% of Arvinas at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. bought a new stake in shares of Arvinas during the 4th quarter worth $42,332,000. Norges Bank acquired a new position in Arvinas during the 4th quarter worth approximately $23,845,000. Affinity Asset Advisors LLC boosted its position in Arvinas by 180.0% in the fourth quarter. Affinity Asset Advisors LLC now owns 630,000 shares of the company's stock valued at $12,077,000 after buying an additional 405,000 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company's stock worth $57,371,000 after buying an additional 367,343 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Arvinas by 84.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 656,100 shares of the company's stock worth $12,577,000 after buying an additional 300,295 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ARVN shares. HC Wainwright reduced their price objective on Arvinas from $81.00 to $24.00 and set a "buy" rating on the stock in a research report on Friday. Morgan Stanley cut their target price on shares of Arvinas from $48.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company decreased their price target on shares of Arvinas from $26.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday. TD Cowen downgraded Arvinas from a "buy" rating to a "hold" rating in a report on Friday. Finally, Oppenheimer lowered Arvinas from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.09.

Arvinas Stock Performance

ARVN traded down $0.09 during mid-day trading on Monday, reaching $7.63. 3,536,211 shares of the stock were exchanged, compared to its average volume of 1,260,172. Arvinas, Inc. has a 1 year low of $5.94 and a 1 year high of $37.38. The company has a 50 day moving average price of $9.66 and a two-hundred day moving average price of $17.37. The stock has a market capitalization of $556.92 million, a PE ratio of -2.75 and a beta of 2.21.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. Arvinas's revenue was up 646.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.97) EPS. Sell-side analysts expect that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Insider Activity at Arvinas

In related news, insider Ian Taylor sold 9,020 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the transaction, the insider now directly owns 159,121 shares in the company, valued at $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Noah Berkowitz sold 8,658 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the sale, the insider now directly owns 110,023 shares in the company, valued at $945,097.57. This represents a 7.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,230 shares of company stock worth $769,402. Corporate insiders own 5.23% of the company's stock.

Arvinas 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.