Y Intercept Hong Kong Ltd Makes New $1.07 Million Investment in Arvinas, Inc. $ARVN

Y Intercept Hong Kong Ltd purchased a new stake in shares of Arvinas, Inc. (NASDAQ:ARVN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 145,745 shares of the company’s stock, valued at approximately $1,073,000. Y Intercept Hong Kong Ltd owned about 0.20% of Arvinas as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in Arvinas by 965.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company’s stock valued at $33,000 after purchasing an additional 4,219 shares during the last quarter. CWM LLC lifted its holdings in Arvinas by 2,317.5% during the 1st quarter. CWM LLC now owns 7,615 shares of the company’s stock valued at $53,000 after purchasing an additional 7,300 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Arvinas during the 2nd quarter valued at about $74,000. Aigen Investment Management LP bought a new position in Arvinas during the 1st quarter valued at about $77,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Arvinas during the 1st quarter valued at about $80,000. 95.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

ARVN has been the subject of several research reports. HC Wainwright lowered their price objective on shares of Arvinas from $24.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. The Goldman Sachs Group reissued a “sell” rating and issued a $6.00 price target (down previously from $8.00) on shares of Arvinas in a report on Wednesday, October 15th. Piper Sandler restated an “overweight” rating and issued a $16.00 price objective on shares of Arvinas in a research report on Tuesday, October 7th. Barclays began coverage on Arvinas in a research report on Wednesday, September 17th. They issued an “overweight” rating and a $16.00 price objective on the stock. Finally, Wedbush reissued a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Arvinas in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Arvinas currently has an average rating of “Hold” and an average price target of $16.39.

Arvinas Price Performance

Shares of NASDAQ:ARVN opened at $9.72 on Tuesday. Arvinas, Inc. has a one year low of $5.90 and a one year high of $28.83. The company has a 50 day moving average of $8.65 and a 200-day moving average of $7.87. The stock has a market cap of $713.64 million, a price-to-earnings ratio of -9.62 and a beta of 2.38.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.03. The company had revenue of $22.40 million during the quarter, compared to analysts’ expectations of $34.42 million. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. Arvinas’s revenue was down 70.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.49) EPS. Equities research analysts anticipate that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Arvinas declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 17.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Arvinas

In other news, Director Briggs Morrison acquired 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was purchased at an average price of $7.57 per share, for a total transaction of $227,100.00. Following the completion of the acquisition, the director owned 76,021 shares in the company, valued at $575,478.97. This trade represents a 65.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate 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.