Monaco Asset Management SAM Increases Stake in Arvinas, Inc. (NASDAQ:ARVN)

Key Points

• Monaco Asset Management SAM increased its stake in Arvinas, Inc. by 1,161.8% in the first quarter, owning 315,459 shares valued at approximately $2.22 million.
• A significant number of institutional investors, including XTX Topco Ltd and Federated Hermes Inc., have also raised their stakes in Arvinas, indicating a growing interest in the company.
• Research analysts have lowered their price targets on Arvinas shares, with a consensus target price of $20.29 and a rating of "Moderate Buy."

Monaco Asset Management SAM increased its stake in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 1,161.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 315,459 shares of the company's stock after purchasing an additional 290,459 shares during the period. Arvinas makes up 0.5% of Monaco Asset Management SAM's investment portfolio, making the stock its 23rd largest holding. Monaco Asset Management SAM owned 0.43% of Arvinas worth $2,215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ARVN. Teacher Retirement System of Texas grew its position in Arvinas by 19.0% during the fourth quarter. Teacher Retirement System of Texas now owns 14,295 shares of the company's stock valued at $274,000 after buying an additional 2,280 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Arvinas during the fourth quarter valued at approximately $171,000. LPL Financial LLC grew its position in Arvinas by 12.5% during the fourth quarter. LPL Financial LLC now owns 18,669 shares of the company's stock valued at $358,000 after buying an additional 2,077 shares during the period. Vanguard Group Inc. grew its position in Arvinas by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company's stock valued at $135,389,000 after buying an additional 56,561 shares during the period. Finally, Norges Bank bought a new stake in Arvinas during the fourth quarter valued at approximately $23,845,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arvinas

In other news, CFO Andrew Saik sold 5,700 shares of the 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 approximately $1,251,091.61. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.73% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BTIG Research set a $16.00 target price on shares of Arvinas and gave the company a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group cut their target price on shares of Arvinas from $12.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. UBS Group dropped their price target on shares of Arvinas from $74.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Wells Fargo & Company dropped their price target on shares of Arvinas from $26.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, TD Cowen lowered shares of Arvinas from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.29.

Arvinas Stock Down 0.3%

Arvinas stock traded down $0.02 during mid-day trading on Friday, reaching $7.42. 1,465,745 shares of the company's stock traded hands, compared to its average volume of 2,174,732. The company has a market cap of $541.59 million, a price-to-earnings ratio of -11.24 and a beta of 2.17. The stock has a 50 day moving average of $7.53 and a two-hundred day moving average of $10.42. Arvinas, Inc. has a 12-month low of $5.90 and a 12-month high of $29.61.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.93) by $2.07. Arvinas had a negative net margin of 10.92% and a negative return on equity of 7.74%. The company's revenue was up 646.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.97) EPS. As a group, sell-side analysts forecast that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Arvinas Company 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.