Algert Global LLC Grows Stock Position in Arvinas, Inc. $ARVN

Algert Global LLC raised its position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 137.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 426,415 shares of the company's stock after acquiring an additional 246,919 shares during the quarter. Algert Global LLC owned 0.66% of Arvinas worth $3,544,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ARVN. BlackRock Inc. purchased a new stake in shares of Arvinas during the second quarter worth about $63,232,000. Armistice Capital LLC boosted its holdings in Arvinas by 50.0% in the fourth quarter. Armistice Capital LLC now owns 1,800,000 shares of the company's stock valued at $21,348,000 after purchasing an additional 600,000 shares during the last quarter. TCG Crossover Management LLC purchased a new position in Arvinas in the third quarter valued at about $13,780,000. Qube Research & Technologies Ltd grew 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 valued at $12,668,000 after purchasing an additional 903,337 shares in the last quarter. Finally, Millennium Management LLC grew 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 valued at $9,198,000 after purchasing an additional 885,483 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

Arvinas Trading Down 0.6%

ARVN stock opened at $9.18 on Friday. Arvinas, Inc. has a one year low of $6.97 and a one year high of $14.51. The firm has a 50-day moving average of $8.55 and a two-hundred day moving average of $9.83. The firm has a market capitalization of $592.29 million, a PE ratio of 91.81 and a beta of 1.71.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $2.95. The business had revenue of $249.70 million for the quarter, compared to analyst estimates of $60.71 million. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. The firm's revenue was up 1014.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.84) earnings per share. On average, equities research analysts anticipate that Arvinas, Inc. will post 0.05 earnings per share for the current year.

Insider Activity

In other news, CFO Andrew Saik sold 5,696 shares of the 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 of the company's stock, valued at $1,529,445.12. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARVN. Zacks Research raised shares of Arvinas from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Citigroup cut their price target on shares of Arvinas from $24.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Stephens reiterated an "overweight" rating and set a $18.00 price objective on shares of Arvinas in a research note on Wednesday, June 3rd. Evercore set a $14.00 price objective on shares of Arvinas in a report on Monday, August 10th. Finally, Morgan Stanley set a $10.00 target price on shares of Arvinas in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $14.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source