Brummer Multi Strategy AB Makes New $1.97 Million Investment in Arvinas, Inc. $ARVN

Key Points

• Brummer Multi Strategy AB disclosed a new stake in Arvinas, buying 166,342 shares worth about $1.97 million in the fourth quarter. The position makes Arvinas its third-largest holding and accounts for 11.9% of its portfolio.
• Arvinas also saw notable insider selling, including director John G. Houston and CFO Andrew Saik, with insiders selling 63,864 shares over the last 90 days. Despite this, institutional investors still own about 95.19% of the stock.
• The biotech company reported a weak quarter, posting a larger-than-expected loss and revenue far below estimates, while analysts maintain a mixed outlook. Shares opened at $10.11, and the consensus Wall Street rating is Hold with an average target price of $14.86.

Brummer Multi Strategy AB bought a new position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 166,342 shares of the company's stock, valued at approximately $1,973,000. Arvinas accounts for about 11.9% of Brummer Multi Strategy AB's investment portfolio, making the stock its 3rd largest holding. Brummer Multi Strategy AB owned approximately 0.26% of Arvinas as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. acquired a new stake in shares of Arvinas during the 4th quarter valued at $1,245,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Arvinas during the 4th quarter valued at $355,000. Tema Etfs LLC acquired a new stake in shares of Arvinas during the 4th quarter valued at $579,000. Allspring Global Investments Holdings LLC lifted its position in shares of Arvinas by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,574 shares of the company's stock valued at $552,000 after acquiring an additional 4,074 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Arvinas by 104.3% during the 4th quarter. SG Americas Securities LLC now owns 78,164 shares of the company's stock valued at $927,000 after acquiring an additional 39,908 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arvinas

In other Arvinas news, Director John G. Houston sold 35,297 shares of the business's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $13.21, for a total transaction of $466,273.37. Following the sale, the director directly owned 1,122,183 shares of the company's stock, valued at $14,824,037.43. The trade was a 3.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew Saik sold 5,134 shares of the business's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $11.89, for a total transaction of $61,043.26. Following the sale, the chief financial officer directly owned 159,267 shares in the company, valued at approximately $1,893,684.63. This trade represents a 3.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 63,864 shares of company stock worth $802,443. Insiders own 7.30% of the company's stock.

Arvinas Price Performance

Shares of NASDAQ:ARVN opened at $10.11 on Monday. The company's fifty day moving average is $11.43 and its two-hundred day moving average is $11.68. Arvinas, Inc. has a 12-month low of $5.90 and a 12-month high of $14.51. The company has a market cap of $652.30 million, a P/E ratio of -7.90 and a beta of 1.79.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.55). Arvinas had a negative net margin of 30.77% and a negative return on equity of 14.25%. The firm had revenue of $9.50 million for the quarter, compared to analyst estimates of $37.26 million. During the same period last year, the firm earned ($0.63) earnings per share. Arvinas's revenue for the quarter was down 84.0% compared to the same quarter last year. Equities research analysts anticipate that Arvinas, Inc. will post -3.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ARVN. Truist Financial set a $10.00 price objective on Arvinas in a research report on Wednesday, March 18th. Piper Sandler reiterated an "overweight" rating and set a $20.00 price objective (up from $16.00) on shares of Arvinas in a research report on Wednesday, February 25th. Wedbush increased their price objective on Arvinas from $9.00 to $11.00 and gave the company a "neutral" rating in a research report on Tuesday, February 24th. Zacks Research downgraded Arvinas from a "hold" rating to a "strong sell" rating in a research report on Monday, April 27th. Finally, BTIG Research increased their price objective on Arvinas from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, March 19th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $14.86.

Arvinas 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.

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