Algert Global LLC Buys 257,879 Shares of Arvinas, Inc. $ARVN

Key Points

• Algert Global LLC increased its position in Arvinas, Inc. by 125.2%, owning approximately 463,867 shares worth $3.26 million as of the most recent reporting period.
• The stock experienced a 0.4% decline, with shares opening at $7.14 and a market cap of $524.22 million.
• Despite a negative earnings report, analysts maintain a consensus rating of "Moderate Buy" for Arvinas, with an average price target of $19.76.

Algert Global LLC grew its stake in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 125.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 463,867 shares of the company's stock after buying an additional 257,879 shares during the quarter. Algert Global LLC owned approximately 0.64% of Arvinas worth $3,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in Arvinas in the fourth quarter worth about $28,000. GAMMA Investing LLC boosted its stake in shares of Arvinas by 11,283.8% in the first quarter. GAMMA Investing LLC now owns 4,212 shares of the company's stock worth $300,000 after acquiring an additional 4,175 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Arvinas by 965.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company's stock worth $33,000 after acquiring an additional 4,219 shares during the period. CWM LLC boosted its stake in shares of Arvinas by 2,317.5% in the first quarter. CWM LLC now owns 7,615 shares of the company's stock worth $53,000 after acquiring an additional 7,300 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of Arvinas in the first quarter worth about $77,000. Hedge funds and other institutional investors own 95.19% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial reaffirmed a "hold" rating and issued a $11.00 price objective (down previously from $21.00) on shares of Arvinas in a research note on Monday, May 5th. BMO Capital Markets dropped their price objective on Arvinas from $20.00 to $10.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Piper Sandler reaffirmed an "overweight" rating and issued a $14.00 price objective (down previously from $24.00) on shares of Arvinas in a research note on Friday, May 2nd. HC Wainwright dropped their price objective on Arvinas from $24.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, Barclays dropped their price objective on Arvinas from $32.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.76.

Insider Buying and Selling

In other news, CFO Andrew Saik sold 5,700 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $7.61, for a total value of $43,377.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.73% of the company's stock.

Arvinas Stock Up 2.2%

Arvinas stock traded up $0.16 during midday trading on Monday, reaching $7.48. 1,345,084 shares of the stock traded hands, compared to its average volume of 2,012,656. The stock's fifty day moving average is $7.46 and its 200-day moving average is $9.00. Arvinas, Inc. has a 12 month low of $5.90 and a 12 month high of $29.61. The stock has a market cap of $549.18 million, a P/E ratio of -7.41 and a beta of 2.22.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $22.40 million during the quarter, compared to analyst estimates of $34.42 million. During the same period in the prior year, the company earned ($0.49) earnings per share. The firm's revenue was down 70.7% on a year-over-year basis. On average, equities analysts predict that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

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.