Nantahala Capital Management LLC Acquires New Stake in Arvinas, Inc. $ARVN

Key Points

• Nantahala Capital Management acquired 300,000 Arvinas shares worth approximately $2.49 million, representing a 0.46% stake. Institutional investors collectively own 95.19% of the company.
• Arvinas reported significantly better-than-expected quarterly results, with EPS of $2.58 versus a consensus loss estimate of $0.37 and revenue of $249.7 million, up 1,014.7% year over year.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a $14.17 consensus price target, compared with its recent price of $9.18.

Nantahala Capital Management LLC bought a new position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 300,000 shares of the company's stock, valued at approximately $2,493,000. Nantahala Capital Management LLC owned 0.46% of Arvinas at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Stonepine Capital Management LLC acquired a new stake in shares of Arvinas in the 2nd quarter valued at about $498,600. Public Employees Retirement System of Ohio acquired a new position in shares of Arvinas during the second quarter worth about $811,000. Corient Private Wealth LP acquired a new position in shares of Arvinas during the second quarter worth about $95,000. Bank of America Corp DE bought a new position in shares of Arvinas during the second quarter worth about $2,102,000. Finally, Man Group plc bought a new position in shares of Arvinas during the second quarter worth about $2,128,000. Institutional investors own 95.19% of the company's stock.

Arvinas Stock Performance

Shares of ARVN opened at $9.18 on Friday. Arvinas, Inc. has a 52 week low of $6.97 and a 52 week high of $14.51. The firm has a market cap of $592.29 million, a P/E ratio of 91.81 and a beta of 1.71. The firm's 50-day simple moving average is $8.55 and its 200 day simple moving average is $9.83.

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

Insider Buying and Selling at Arvinas

In other news, CFO Andrew Saik sold 5,696 shares of the stock in a transaction that occurred 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 owned 187,432 shares in the company, valued at approximately $1,529,445.12. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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. Company insiders own 7.30% of the company's stock.

Wall Street Analysts Forecast Growth

ARVN has been the subject of several research reports. Wall Street Zen raised shares of Arvinas from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Wells Fargo & Company reissued an "equal weight" rating and issued a $11.00 price objective (down from $15.00) on shares of Arvinas in a research report on Tuesday, August 4th. Barclays increased their price target on Arvinas from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Zacks Research upgraded shares of Arvinas from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Finally, Morgan Stanley set a $10.00 price target on shares of Arvinas in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $14.17.

Arvinas Company Profile

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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