Armistice Capital LLC Invests $4.12 Million in Arvinas, Inc. $ARVN

Armistice Capital LLC acquired a new stake in Arvinas, Inc. (NASDAQ:ARVN) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 560,000 shares of the company’s stock, valued at approximately $4,122,000. Armistice Capital LLC owned approximately 0.76% of Arvinas as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Arvinas by 18.4% during 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 during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Arvinas during the 1st quarter worth $12,636,000. Geode Capital Management LLC grew its stake in Arvinas by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,585,092 shares of the company’s stock valued at $11,668,000 after buying an additional 48,296 shares during the last quarter. Acadian Asset Management LLC grew 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 buying an additional 1,267,593 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Arvinas by 208.4% in the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after acquiring an additional 885,483 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Stock Down 3.2%

NASDAQ:ARVN opened at $12.57 on Friday. The firm has a market capitalization of $807.25 million, a PE ratio of -15.52 and a beta of 2.44. Arvinas, Inc. has a 12-month low of $5.90 and a 12-month high of $22.48. The firm has a 50-day moving average price of $10.74 and a 200 day moving average price of $8.67.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.27. Arvinas had a negative return on equity of 9.77% and a negative net margin of 18.73%.The firm had revenue of $41.90 million for the quarter, compared to analysts’ expectations of $29.36 million. During the same period in the prior year, the business posted ($0.68) earnings per share. The business’s revenue was down 59.1% compared to the same quarter last year. On average, research analysts expect that Arvinas, Inc. will post -3.81 EPS for the current year.

Arvinas announced that its Board of Directors has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Arvinas

In other Arvinas news, Director Briggs Morrison bought 30,000 shares of Arvinas stock in a transaction dated Monday, September 22nd. The shares were acquired at an average cost of $7.57 per share, with a total value of $227,100.00. Following the acquisition, the director directly owned 76,021 shares of the company’s stock, valued at $575,478.97. The trade was a 65.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ARVN has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 target price on shares of Arvinas in a report on Tuesday, October 7th. Stephens lifted their price target on Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. BTIG Research upped their price target on Arvinas from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arvinas in a research note on Tuesday. Eleven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.39.

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.