Acadian Asset Management LLC Purchases 1,267,593 Shares of Arvinas, Inc. $ARVN

Acadian Asset Management LLC grew its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 791.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,427,832 shares of the company’s stock after buying an additional 1,267,593 shares during the quarter. Acadian Asset Management LLC owned approximately 1.96% of Arvinas worth $10,498,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ARVN. Alyeska Investment Group L.P. acquired a new position in Arvinas during the 1st quarter valued at about $12,636,000. Vanguard Group Inc. increased its stake in Arvinas by 18.4% in the first quarter. Vanguard Group Inc. now owns 8,362,200 shares of the company’s stock valued at $58,703,000 after purchasing an additional 1,299,639 shares in the last quarter. Philosophy Capital Management LLC acquired a new stake in Arvinas in the first quarter worth $6,992,000. Federated Hermes Inc. grew its stake in Arvinas by 1,965.0% in the first quarter. Federated Hermes Inc. now owns 980,674 shares of the company’s stock valued at $6,884,000 after acquiring an additional 933,183 shares during the period. Finally, Millennium Management LLC raised its position in shares of Arvinas by 208.4% during the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after purchasing an additional 885,483 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Insider Activity at Arvinas

In other news, Director Briggs Morrison acquired 30,000 shares of Arvinas stock in a transaction dated Monday, September 22nd. The shares were bought at an average cost of $7.57 per share, with a total value of $227,100.00. Following the purchase, the director 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 legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.73% of the company’s stock.

Analyst Upgrades and Downgrades

ARVN has been the topic of several research reports. Bank of America cut shares of Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research report on Wednesday, September 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 target price on shares of Arvinas in a research report on Tuesday, October 7th. Wells Fargo & Company dropped their target price on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Stephens raised their target price on shares of Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Arvinas in a report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.39.

Arvinas Price Performance

Arvinas stock opened at $11.21 on Wednesday. The company has a market capitalization of $719.91 million, a P/E ratio of -13.84 and a beta of 2.38. The business has a 50 day moving average of $8.96 and a 200-day moving average of $7.93. Arvinas, Inc. has a 1 year low of $5.90 and a 1 year high of $27.76.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.27. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The company had revenue of $41.90 million for the quarter, compared to analysts’ expectations of $29.36 million. During the same quarter in the previous year, the firm posted ($0.68) earnings per share. Arvinas’s revenue for the quarter was down 59.1% on a year-over-year basis. Equities analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current year.

Arvinas announced that its Board of Directors has approved a stock repurchase plan on Wednesday, September 17th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 17.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.