Arvinas, Inc. $ARVN Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Arvinas, Inc. by 119.4% in the first quarter, holding 81,747 shares valued at approximately $574,000.
• Recent research reports downgraded Arvinas, with Leerink Partners lowering its target price from $10.00 to $9.00 and UBS reducing it from $74.00 to $21.00.
• Arvinas reported a 70.7% year-over-year decline in quarterly revenue, with earnings of ($0.84) per share, which beat analysts' estimates of ($0.87).

Invesco Ltd. lifted its position in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 119.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,747 shares of the company's stock after buying an additional 44,493 shares during the quarter. Invesco Ltd. owned about 0.11% of Arvinas worth $574,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in shares of Arvinas during the fourth quarter valued at about $28,000. CWM LLC raised its position in 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 during the period. Allspring Global Investments Holdings LLC bought a new stake in Arvinas in the first quarter worth about $80,000. Exchange Traded Concepts LLC raised its position in Arvinas by 119.9% in the first quarter. Exchange Traded Concepts LLC now owns 14,642 shares of the company's stock worth $103,000 after acquiring an additional 7,983 shares during the period. Finally, Corton Capital Inc. bought a new stake in shares of Arvinas in the first quarter valued at approximately $124,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Stock Up 2.9%

NASDAQ:ARVN traded up $0.22 during trading hours on Friday, hitting $7.83. 1,891,283 shares of the stock traded hands, compared to its average volume of 1,457,613. Arvinas, Inc. has a 1 year low of $5.90 and a 1 year high of $29.61. The stock has a 50 day moving average price of $7.50 and a 200 day moving average price of $8.41. The company has a market cap 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 announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.03. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. The company had revenue of $22.40 million for the quarter, compared to analysts' expectations of $34.42 million. During the same quarter in the previous year, the business posted ($0.49) earnings per share. Arvinas's quarterly revenue was down 70.7% on a year-over-year basis. Equities analysts forecast that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms have issued reports on ARVN. Leerink Partnrs cut shares of Arvinas from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. HC Wainwright lowered their price objective on shares of Arvinas from $24.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Leerink Partners reiterated a "market perform" rating and set a $9.00 price target (down from $10.00) on shares of Arvinas in a report on Monday, June 2nd. Wells Fargo & Company lowered their price target on shares of Arvinas from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Guggenheim decreased their price objective on shares of Arvinas from $16.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.76.

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.