Arvinas, Inc. $ARVN Shares Purchased by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC increased its Arvinas stake by 760.3% in the second quarter, reaching 201,822 shares valued at approximately $1.68 million. Institutional investors and hedge funds collectively own 95.19% of ARVN.
• Arvinas reported strong quarterly results, with $249.7 million in revenue—up 1,014.7% year over year—and earnings of $2.58 per share, exceeding analyst expectations.
• ARVN shares opened at $8.26, while analysts maintained a consensus “Hold” rating and an average price target of $14.17; the company’s CFO separately sold shares under a pre-arranged plan to cover tax obligations.

Squarepoint Ops LLC boosted its position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 760.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 201,822 shares of the company's stock after buying an additional 178,362 shares during the period. Squarepoint Ops LLC owned approximately 0.31% of Arvinas worth $1,677,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Arvinas in the second quarter worth $63,232,000. Armistice Capital LLC grew its position in Arvinas by 50.0% during the 4th quarter. Armistice Capital LLC now owns 1,800,000 shares of the company's stock worth $21,348,000 after purchasing an additional 600,000 shares during the period. Nantahala Capital Management LLC acquired a new stake in Arvinas during the 2nd quarter worth about $2,493,000. Man Group plc purchased a new position in shares of Arvinas during the 2nd quarter valued at about $2,128,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Arvinas during the 2nd quarter valued at about $2,119,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arvinas

In other Arvinas news, CFO Andrew Saik sold 5,696 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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. 7.30% of the stock is currently owned by insiders.

Arvinas Trading Down 1.7%

Shares of ARVN opened at $8.26 on Wednesday. Arvinas, Inc. has a 12 month low of $6.97 and a 12 month high of $14.51. The stock's 50 day moving average is $8.73 and its two-hundred day moving average is $9.53. The firm has a market cap of $532.94 million, a P/E ratio of 82.61 and a beta of 1.75.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share 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 the consensus estimate of $60.71 million. During the same period in the prior year, the company posted ($0.84) EPS. The business's quarterly revenue was up 1014.7% on a year-over-year basis. Equities research analysts forecast that Arvinas, Inc. will post 0.05 EPS for the current year.

Wall Street Analyst Weigh In

ARVN has been the topic of a number of recent research reports. Zacks Research downgraded Arvinas from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 3rd. Evercore set a $14.00 price target on Arvinas in a research report on Monday, August 10th. Weiss Ratings raised Arvinas from a "sell (e+)" rating to a "sell (d)" rating in a report on Thursday, August 13th. BTIG Research restated a "buy" rating and issued a $18.00 price objective on shares of Arvinas in a research report on Tuesday, August 4th. Finally, Citigroup dropped their price objective on shares of Arvinas from $24.00 to $21.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.17.

About Arvinas

Arvinas, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively remove disease-causing proteins from cells. The company's approach, known as targeted protein degradation, uses proprietary PROTAC technology to direct specific proteins to the cell's natural disposal machinery. Arvinas applies this platform primarily to cancer and other serious diseases in which abnormal or unwanted proteins contribute to disease progression.

Arvinas' pipeline has included vepdegestrant, formerly known as ARV-471, an investigational oral estrogen receptor degrader being developed for patients with estrogen receptor-positive, HER2-negative breast cancer.

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