Clear Harbor Asset Management LLC Acquires New Holdings in Arvinas, Inc. $ARVN

Key Points

• Clear Harbor Asset Management LLC has acquired a new position in Arvinas, purchasing 56,080 shares worth approximately $413,000. This marks a stake of 0.08% in the company.
• Arvinas recently initiated a share buyback program authorizing the repurchase of up to $100 million in shares, indicating confidence in the stock's value.
• The company has a consensus rating of "Moderate Buy" among analysts, with an average target price set at $17.13, despite mixed adjustments from various research firms.

Clear Harbor Asset Management LLC bought a new position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 56,080 shares of the company's stock, valued at approximately $413,000. Clear Harbor Asset Management LLC owned 0.08% of Arvinas as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in shares of Arvinas in the 4th quarter valued at $28,000. Caitong International Asset Management Co. Ltd grew its stake in Arvinas by 965.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company's stock valued at $33,000 after acquiring an additional 4,219 shares during the period. CWM LLC increased its holdings 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 in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Arvinas during the first quarter worth about $77,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Arvinas during the 1st quarter valued at about $80,000. Institutional investors and hedge funds own 95.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARVN. Wedbush reissued a "neutral" rating and set a $9.00 target price (down from $10.00) on shares of Arvinas in a research note on Thursday, September 18th. Stephens lowered their price objective on shares of Arvinas from $16.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, September 18th. Barclays initiated coverage on shares of Arvinas in a report on Wednesday, September 17th. They set an "overweight" rating and a $16.00 price objective on the stock. Guggenheim reduced their target price on shares of Arvinas from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, BTIG Research dropped their price target on Arvinas from $16.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $17.13.

Arvinas Price Performance

ARVN opened at $7.53 on Wednesday. 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 $552.85 million, a price-to-earnings ratio of -7.46 and a beta of 2.38. The business has a 50 day moving average of $7.48 and a 200-day moving average of $7.60.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.84) earnings per share for the quarter, topping 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 business had revenue of $22.40 million for the quarter, compared to analyst estimates of $34.42 million. During the same period in the previous year, the firm earned ($0.49) EPS. The firm's revenue was down 70.7% compared to the same quarter last year. As a group, analysts expect that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Arvinas announced that its board has initiated a share repurchase program on Wednesday, September 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 17.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

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.

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