Voya Investment Management LLC Has $124,000 Holdings in Arvinas, Inc. $ARVN

Voya Investment Management LLC trimmed its position in Arvinas, Inc. (NASDAQ:ARVN) by 55.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,717 shares of the company’s stock after selling 21,961 shares during the period. Voya Investment Management LLC’s holdings in Arvinas were worth $124,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Arvinas by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock worth $271,000 after buying an additional 2,122 shares during the period. Woodline Partners LP grew its stake 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 acquiring an additional 3,212 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Arvinas by 3.8% during the 1st quarter. Rhumbline Advisers now owns 91,210 shares of the company’s stock worth $640,000 after acquiring an additional 3,333 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Arvinas by 19.0% during the 1st quarter. New York State Common Retirement Fund now owns 24,313 shares of the company’s stock worth $171,000 after acquiring an additional 3,888 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Arvinas by 11,283.8% during the 1st quarter. GAMMA Investing LLC now owns 4,212 shares of the company’s stock worth $300,000 after acquiring an additional 4,175 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Briggs Morrison acquired 30,000 shares of Arvinas stock in a transaction on Monday, September 22nd. The stock was purchased at an average cost of $7.57 per share, with a total value of $227,100.00. Following the completion of the transaction, the director directly owned 76,021 shares in the company, valued at $575,478.97. This trade represents a 65.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.73% of the stock is currently owned by company insiders.

Arvinas Trading Up 7.2%

NASDAQ:ARVN opened at $9.13 on Thursday. Arvinas, Inc. has a 1-year low of $5.90 and a 1-year high of $29.61. The firm has a fifty day simple moving average of $7.56 and a 200 day simple moving average of $7.54. The stock has a market capitalization of $670.32 million, a PE ratio of -9.04 and a beta of 2.39.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, topping 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 firm had revenue of $22.40 million during the quarter, compared to analysts’ expectations of $34.42 million. During the same period in the previous year, the business posted ($0.49) earnings per share. The company’s revenue for the quarter was down 70.7% compared to the same quarter last year. On average, equities analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Arvinas declared that its board has approved a share buyback program on Wednesday, September 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 17.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ARVN shares. Wedbush reaffirmed a “neutral” rating and set a $9.00 price target (down from $10.00) on shares of Arvinas in a research note on Thursday, September 18th. Stephens decreased their price target on shares of Arvinas from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, September 18th. HC Wainwright decreased their price target 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. Bank of America cut shares of Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Wednesday, September 24th. Finally, BTIG Research decreased their price target on shares of Arvinas from $16.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.18.

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.