Acadian Asset Management LLC Acquires New Shares in Arvinas, Inc. $ARVN

Key Points

• Acadian Asset Management LLC has taken a new position in Arvinas, Inc. with an investment of approximately $1.12 million for 160,239 shares, representing about 0.22% ownership of the company.
• Arvinas' stock has seen mixed analyst ratings, with a current average target price of $17.13, despite recent downward adjustments from several analysts.
• As of the latest report, hedge funds and institutional investors own 95.19% of Arvinas, indicating significant institutional interest in the company's stock.

Acadian Asset Management LLC bought a new stake in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 160,239 shares of the company's stock, valued at approximately $1,123,000. Acadian Asset Management LLC owned approximately 0.22% of Arvinas as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARVN. Ameriprise Financial Inc. raised its holdings in shares of Arvinas by 20.1% during the fourth quarter. Ameriprise Financial Inc. now owns 116,513 shares of the company's stock valued at $2,234,000 after acquiring an additional 19,505 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Arvinas by 19.4% during the fourth quarter. BNP Paribas Financial Markets now owns 44,592 shares of the company's stock valued at $855,000 after acquiring an additional 7,243 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Arvinas by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,514 shares of the company's stock valued at $700,000 after acquiring an additional 1,353 shares in the last quarter. ProShare Advisors LLC raised its holdings in Arvinas by 31.8% in the fourth quarter. ProShare Advisors LLC now owns 21,349 shares of the company's stock worth $409,000 after purchasing an additional 5,153 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Arvinas by 2.9% in the fourth quarter. Two Sigma Investments LP now owns 397,502 shares of the company's stock worth $7,620,000 after purchasing an additional 11,233 shares in the last quarter. Institutional investors own 95.19% of the company's stock.

Arvinas Stock Down 2.6%

Shares of NASDAQ:ARVN traded down $0.20 on Friday, hitting $7.52. 3,445,050 shares of the company traded hands, compared to its average volume of 1,572,564. Arvinas, Inc. has a 52 week low of $5.90 and a 52 week high of $29.61. The stock has a 50 day simple moving average of $7.48 and a 200-day simple moving average of $7.68. The company has a market cap of $552.12 million, a PE ratio of -7.45 and a beta of 2.38.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.03. Arvinas had a negative return on equity of 12.01% and a negative net margin of 19.47%.The firm had revenue of $22.40 million during the quarter, compared to the consensus estimate of $34.42 million. During the same period last year, the company earned ($0.49) earnings per share. The company's revenue was down 70.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Arvinas announced that its board has approved a stock repurchase plan on Wednesday, September 17th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 17.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Arvinas

In related news, CFO Andrew Saik sold 5,700 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $7.61, for a total transaction of $43,377.00. Following the sale, the chief financial officer directly owned 164,401 shares of the company's stock, valued at $1,251,091.61. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.73% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Guggenheim decreased their price objective on Arvinas from $16.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, August 7th. BTIG Research decreased their price objective on Arvinas from $16.00 to $10.00 and set a "buy" rating for the company in a report on Thursday. Stephens decreased their price objective on Arvinas from $16.00 to $14.00 and set an "overweight" rating for the company in a report on Thursday. Wedbush reiterated a "neutral" rating and issued a $9.00 price objective (down previously from $10.00) on shares of Arvinas in a report on Thursday. Finally, Barclays assumed coverage on Arvinas in a report on Wednesday. They issued an "overweight" rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Arvinas currently has an average rating of "Moderate Buy" and an average price target of $17.13.

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.