Public Employees Retirement System of Ohio Makes New Investment in Arvinas, Inc. $ARVN

Public Employees Retirement System of Ohio purchased a new position in shares of Arvinas, Inc. (NASDAQ:ARVN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $74,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its position 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 buying an additional 4,175 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Arvinas by 965.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company’s stock worth $33,000 after purchasing an additional 4,219 shares in the last quarter. CWM LLC raised its holdings in shares of Arvinas by 2,317.5% in the 1st quarter. CWM LLC now owns 7,615 shares of the company’s stock worth $53,000 after purchasing an additional 7,300 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Arvinas in the 1st quarter worth approximately $77,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Arvinas in the 1st quarter worth approximately $80,000. 95.19% of the stock is currently owned by institutional investors.

Arvinas Stock Performance

Shares of ARVN opened at $9.30 on Wednesday. The company’s 50 day moving average price is $7.70 and its 200 day moving average price is $7.55. Arvinas, Inc. has a 52 week low of $5.90 and a 52 week high of $29.61. The company has a market capitalization of $682.81 million, a PE ratio of -9.21 and a beta of 2.39.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data 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 firm had revenue of $22.40 million for the quarter, compared to the consensus estimate of $34.42 million. During the same period in the previous year, the firm posted ($0.49) earnings per share. The firm’s revenue was down 70.7% on a year-over-year basis. On average, equities analysts forecast that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Arvinas announced that its board has approved a stock buyback program on Wednesday, September 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 17.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

ARVN has been the topic of a number of research reports. Guggenheim dropped their target price on shares of Arvinas from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $16.00 target price on shares of Arvinas in a report on Tuesday. HC Wainwright dropped their target price on shares of Arvinas from $24.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. BTIG Research dropped their target price on shares of Arvinas from $16.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, September 18th. Finally, Barclays initiated coverage on shares of Arvinas in a report on Wednesday, September 17th. They issued an “overweight” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.29.

Insider Buying and Selling

In other Arvinas news, Director Briggs Morrison bought 30,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was bought 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 of the company’s stock, valued at approximately $575,478.97. The trade was a 65.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.73% of the company’s stock.

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.