Goldman Sachs Group Inc. Sells 74,982 Shares of Arvinas, Inc. $ARVN

Goldman Sachs Group Inc. reduced its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 15.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,856 shares of the company’s stock after selling 74,982 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.57% of Arvinas worth $2,933,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Rhumbline Advisers lifted its position in Arvinas by 3.8% during the first quarter. Rhumbline Advisers now owns 91,210 shares of the company’s stock worth $640,000 after acquiring an additional 3,333 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Arvinas in the 1st quarter valued at about $1,123,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Arvinas by 108.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company’s stock valued at $6,339,000 after acquiring an additional 469,394 shares in the last quarter. Woodline Partners LP lifted its position in shares of Arvinas by 0.5% during the 1st quarter. Woodline Partners LP now owns 695,945 shares of the company’s stock worth $4,886,000 after buying an additional 3,212 shares in the last quarter. Finally, Philosophy Capital Management LLC purchased a new stake in shares of Arvinas during the 1st quarter worth approximately $6,992,000. Institutional investors own 95.19% of the company’s stock.

Arvinas Price Performance

Shares of ARVN stock opened at $7.52 on Friday. Arvinas, Inc. has a 1-year low of $5.90 and a 1-year high of $29.61. The company has a 50-day moving average of $7.48 and a two-hundred day moving average of $7.82. The firm has a market cap of $552.12 million, a PE ratio of -7.45 and a beta of 2.38.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $22.40 million for the quarter, compared to analysts’ expectations of $34.42 million. During the same period in the previous year, the company posted ($0.49) EPS. The company’s quarterly revenue was down 70.7% on a year-over-year basis. Sell-side analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Arvinas announced that its board has authorized a stock buyback program on Wednesday, September 17th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 17.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

ARVN has been the subject of a number of research analyst reports. Barclays initiated coverage on shares of Arvinas in a report on Wednesday. They set an “overweight” rating and a $16.00 price objective for the company. Wedbush reaffirmed a “neutral” rating and issued a $9.00 price objective (down from $10.00) on shares of Arvinas in a research report on Thursday. Stephens dropped their price target on shares of Arvinas from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday. HC Wainwright dropped their price objective on shares of Arvinas from $24.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Finally, Wells Fargo & Company dropped their price target on shares of Arvinas from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

Insider Transactions at Arvinas

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

About Arvinas

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.