Virtus Investment Advisers LLC Grows Position in Arvinas, Inc. $ARVN

Virtus Investment Advisers LLC lifted its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 49.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,422 shares of the company’s stock after purchasing an additional 4,104 shares during the period. Virtus Investment Advisers LLC’s holdings in Arvinas were worth $91,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARVN. Vanguard Group Inc. raised 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 worth $58,703,000 after buying an additional 1,299,639 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Arvinas in the 1st quarter valued at $12,636,000. Geode Capital Management LLC raised its position in shares of Arvinas by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,585,092 shares of the company’s stock worth $11,668,000 after acquiring an additional 48,296 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Arvinas by 791.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock worth $10,498,000 after purchasing an additional 1,267,593 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Arvinas by 208.4% during the 1st 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 last quarter. 95.19% of the stock is currently owned by institutional investors.

Arvinas Trading Up 0.8%

Shares of NASDAQ:ARVN opened at $12.52 on Monday. Arvinas, Inc. has a twelve month low of $5.90 and a twelve month high of $27.00. The company has a market cap of $804.03 million, a PE ratio of -15.46 and a beta of 2.44. The company’s 50 day moving average is $9.95 and its 200 day moving average is $8.31.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.27. The firm had revenue of $41.90 million for the quarter, compared to analyst estimates of $29.36 million. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The business’s quarterly revenue was down 59.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.68) earnings per share. Equities research analysts predict 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 authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 17.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Arvinas in a report on Wednesday, October 8th. Guggenheim lowered their target price on shares of Arvinas from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company reduced 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. The Goldman Sachs Group reissued a “sell” rating and issued a $6.00 price objective (down previously from $8.00) on shares of Arvinas in a research report on Wednesday, October 15th. Finally, BTIG Research increased their price target on Arvinas from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Eleven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.