Connor Clark & Lunn Investment Management Ltd. Invests $1.39 Million in Arvinas, Inc. $ARVN

Key Points

• Connor Clark & Lunn Investment Management purchased 167,056 Arvinas shares worth approximately $1.39 million, representing about 0.26% of the company. Institutional investors collectively own 95.19% of Arvinas.
• Analyst sentiment is mixed, with one Strong Buy, five Buy, three Hold and two Sell ratings; the consensus rating is Hold with a target price of $14.17, above the stock’s reported $9.18 price.
• Arvinas reported significantly better-than-expected quarterly results, including $2.58 EPS versus estimates of a $0.37 loss and revenue of $249.7 million, up 1,014.7% year over year.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 167,056 shares of the company's stock, valued at approximately $1,388,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.26% of Arvinas as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in Arvinas by 491.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company's stock valued at $43,000 after acquiring an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock worth $49,000 after purchasing an additional 3,500 shares during the period. Quantbot Technologies LP bought a new position in shares of Arvinas in the second quarter valued at $85,000. Jain Global LLC bought a new position in Arvinas in the 3rd quarter valued at about $95,000. Finally, Oxford Asset Management LLP boosted its position in shares of Arvinas by 15.5% during the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company's stock valued at $123,000 after buying an additional 2,242 shares during the last quarter. Institutional investors and hedge funds own 95.19% of the company's stock.

Analysts Set New Price Targets

ARVN has been the subject of a number of recent analyst reports. Morgan Stanley set a $10.00 price objective on Arvinas in a research note on Monday, August 10th. Citigroup cut their price objective on shares of Arvinas from $24.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Weiss Ratings upgraded Arvinas from a "sell (e+)" rating to a "sell (d)" rating in a research note on Thursday, August 13th. Wells Fargo & Company reissued an "equal weight" rating and issued a $11.00 price target (down from $15.00) on shares of Arvinas in a report on Tuesday, August 4th. Finally, Evercore set a $14.00 price target on Arvinas in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.17.

Arvinas Price Performance

Shares of Arvinas stock opened at $9.18 on Friday. The company has a 50-day moving average of $8.55 and a 200 day moving average of $9.83. Arvinas, Inc. has a 1 year low of $6.97 and a 1 year high of $14.51. The firm has a market cap of $592.30 million, a price-to-earnings ratio of 91.81 and a beta of 1.71.

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

Insiders Place Their Bets

In other news, CFO Andrew Saik sold 5,696 shares of the stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 currently owned by company insiders.

About Arvinas

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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