Graham Capital Management L.P. Purchases 213,425 Shares of Arvinas, Inc. $ARVN

Key Points

• Graham Capital Management L.P. significantly increased its stake in Arvinas, Inc. by 242.9% during the first quarter, owning approximately 301,304 shares worth $2.1 million.
• Several hedge funds, including Vanguard and Federated Hermes, also boosted their holdings in Arvinas, highlighting a trend of increasing institutional investment, with over 95% of the stock held by institutions.
• Arvinas recently reported quarterly results showing a 70.7% decline in revenue year-over-year, with earnings per share of ($0.84), slightly beating consensus expectations but indicating ongoing financial challenges.

Graham Capital Management L.P. boosted its position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 242.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,304 shares of the company's stock after purchasing an additional 213,425 shares during the quarter. Graham Capital Management L.P. owned about 0.41% of Arvinas worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Arvinas by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 8,362,200 shares of the company's stock worth $58,703,000 after purchasing an additional 1,299,639 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Arvinas in the 1st quarter worth approximately $80,000. Northern Trust Corp lifted its stake in Arvinas by 7.2% in the 4th quarter. Northern Trust Corp now owns 631,131 shares of the company's stock worth $12,099,000 after purchasing an additional 42,638 shares in the last quarter. Monaco Asset Management SAM lifted its stake in Arvinas by 1,161.8% in the 1st quarter. Monaco Asset Management SAM now owns 315,459 shares of the company's stock worth $2,215,000 after purchasing an additional 290,459 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Arvinas by 1,965.0% in the 1st quarter. Federated Hermes Inc. now owns 980,674 shares of the company's stock worth $6,884,000 after purchasing an additional 933,183 shares in the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arvinas

In other Arvinas news, CFO Andrew Saik sold 5,700 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $7.61, for a total value of $43,377.00. Following the sale, the chief financial officer owned 164,401 shares of the company's stock, valued at $1,251,091.61. This trade represents a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ARVN. UBS Group decreased their price target on shares of Arvinas from $74.00 to $21.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Guggenheim decreased their price target on shares of Arvinas from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. HC Wainwright decreased their price target on shares of Arvinas from $24.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Wells Fargo & Company decreased their price target on shares of Arvinas from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Leerink Partners reissued a "market perform" rating and issued a $9.00 price target (down previously from $10.00) on shares of Arvinas in a report on Monday, June 2nd. Twelve analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $19.76.

Arvinas Stock Performance

Shares of ARVN stock traded up $0.22 on Friday, hitting $7.83. 1,891,283 shares of the company's stock traded hands, compared to its average volume of 1,457,613. Arvinas, Inc. has a one year low of $5.90 and a one year high of $29.61. The company's fifty day simple moving average is $7.50 and its 200 day simple moving average is $8.41. The stock has a market capitalization of $574.86 million, a price-to-earnings ratio of -7.75 and a beta of 2.38.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.03. The company had revenue of $22.40 million for the quarter, compared to analyst estimates of $34.42 million. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. The firm's quarterly revenue was down 70.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.49) EPS. As a group, sell-side analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

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.