Arvinas, Inc. $ARVN Stock Holdings Lifted by Armistice Capital LLC

Armistice Capital LLC grew its position in Arvinas, Inc. (NASDAQ:ARVN) by 50.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,800,000 shares of the company’s stock after purchasing an additional 600,000 shares during the period. Armistice Capital LLC owned about 2.80% of Arvinas worth $21,348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in shares of Arvinas in the 1st quarter valued at approximately $727,000. Jacobs Levy Equity Management Inc. bought a new position in Arvinas during the first quarter valued at approximately $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after acquiring an additional 2,122 shares during the last quarter. Millennium Management LLC grew its position in Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after acquiring an additional 885,483 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Arvinas by 108.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company’s stock worth $6,339,000 after acquiring an additional 469,394 shares in the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arvinas news, insider Noah Berkowitz sold 11,108 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $110,413.52. Following the completion of the sale, the insider directly owned 191,395 shares in the company, valued at $1,902,466.30. This represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew Saik sold 11,139 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $9.94, for a total value of $110,721.66. Following the completion of the sale, the chief financial officer directly owned 193,128 shares in the company, valued at approximately $1,919,692.32. This represents a 5.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 36,032 shares of company stock valued at $356,170 in the last quarter. Insiders own 7.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Barclays raised their price target on shares of Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Wedbush increased their target price on shares of Arvinas from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Wall Street Zen cut Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Finally, BTIG Research upped their price target on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Arvinas has an average rating of “Hold” and a consensus target price of $15.42.

Arvinas Stock Up 3.4%

NASDAQ:ARVN opened at $7.67 on Thursday. The company’s 50 day moving average is $9.37 and its 200-day moving average is $11.25. Arvinas, Inc. has a 12 month low of $6.05 and a 12 month high of $14.51. The firm has a market cap of $494.87 million, a price-to-earnings ratio of -2.31 and a beta of 1.74.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.05. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The business had revenue of $15.60 million during the quarter, compared to the consensus estimate of $16.61 million. During the same period in the prior year, the firm earned $1.14 EPS. Arvinas’s quarterly revenue was down 91.7% compared to the same quarter last year. Research analysts predict that Arvinas, Inc. will post -2.82 EPS for the current fiscal year.

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.