Arvinas, Inc. $ARVN Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Arvinas, Inc. by 15.2%, selling 74,982 shares, and now owns approximately 417,856 shares valued at $2.93 million.
• Arvinas announced a stock buyback program, authorizing up to $100 million to repurchase 17.9% of its stock, indicating the board's belief that shares are undervalued.
• Analysts have set varying price targets for Arvinas, with a consensus target of $17.13, reflecting a "Moderate Buy" rating with nine Buy ratings currently on record.

Goldman Sachs Group Inc. lessened its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 15.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 417,856 shares of the company's stock after selling 74,982 shares during the period. Goldman Sachs Group Inc. owned 0.57% of Arvinas worth $2,933,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new position in Arvinas during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd increased its position in Arvinas by 965.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company's stock worth $33,000 after buying 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 valued at $53,000 after purchasing an additional 7,300 shares during the period. Aigen Investment Management LP acquired a new position in shares of Arvinas in the first quarter valued at approximately $77,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Arvinas in the first quarter valued at approximately $80,000. Institutional investors and hedge funds own 95.19% of the company's stock.

Arvinas Trading Up 2.1%

NASDAQ:ARVN traded up $0.16 on Tuesday, hitting $7.69. 244,931 shares of the stock were exchanged, compared to its average volume of 2,100,756. The stock has a market cap of $564.60 million, a PE ratio of -7.62 and a beta of 2.38. The stock has a fifty day moving average of $7.47 and a 200-day moving average of $7.61. Arvinas, Inc. has a fifty-two week low of $5.90 and a fifty-two week high of $29.61.

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, topping the consensus estimate of ($0.87) by $0.03. The company had revenue of $22.40 million during the quarter, compared to analyst estimates of $34.42 million. Arvinas had a negative return on equity of 12.01% and a negative net margin of 19.47%.The firm's revenue was down 70.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.49) earnings per share. As a group, analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ARVN. Stephens dropped their target price on Arvinas from $16.00 to $14.00 and set an "overweight" rating on the stock in a report on Thursday, September 18th. Guggenheim dropped their target price on Arvinas from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. BTIG Research dropped their price objective on Arvinas from $16.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, September 18th. Wells Fargo & Company dropped their price objective on Arvinas from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Leerink Partnrs lowered Arvinas from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.13.

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.