Arvinas, Inc. $ARVN Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Arvinas, Inc. (NASDAQ:ARVN) by 3.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,585,092 shares of the company’s stock after buying an additional 48,296 shares during the quarter. Geode Capital Management LLC owned approximately 2.17% of Arvinas worth $11,668,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Quinn Opportunity Partners LLC acquired a new position in shares of Arvinas in the second quarter worth $524,000. Monaco Asset Management SAM raised its stake in Arvinas by 185.6% in the 2nd quarter. Monaco Asset Management SAM now owns 900,936 shares of the company’s stock valued at $6,631,000 after purchasing an additional 585,477 shares during the last quarter. Acadian Asset Management LLC raised its stake in Arvinas by 791.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock valued at $10,498,000 after purchasing an additional 1,267,593 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Arvinas in the 2nd quarter valued at about $404,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Arvinas during the 2nd quarter worth about $634,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Trading Down 1.3%

Shares of Arvinas stock opened at $11.66 on Wednesday. The business’s fifty day moving average price is $10.12 and its 200 day moving average price is $8.39. Arvinas, Inc. has a twelve month low of $5.90 and a twelve month high of $26.78. The stock has a market capitalization of $748.81 million, a P/E ratio of -14.40 and a beta of 2.44.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.27. The company had revenue of $41.90 million for the quarter, compared to the consensus estimate of $29.36 million. Arvinas had a negative return on equity of 9.77% and a negative net margin of 18.73%.The company’s quarterly revenue was down 59.1% compared to the same quarter last year. During the same period last year, the business posted ($0.68) EPS. As a group, sell-side analysts predict that Arvinas, Inc. will post -3.81 EPS for the current year.

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

Wall Street Analysts Forecast Growth

ARVN has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Arvinas in a research report on Wednesday, October 8th. Guggenheim cut their price target on Arvinas from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Stephens increased their price target on Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Wells Fargo & Company decreased their price objective on Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, Bank of America downgraded Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday, September 24th. Eleven analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.39.

Insiders Place Their Bets

In other Arvinas news, Director Briggs Morrison acquired 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, for a total transaction of $227,100.00. Following the completion of the purchase, the director directly owned 76,021 shares in the company, valued at $575,478.97. This represents a 65.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.73% of the stock is currently owned by company insiders.

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.