Arvinas, Inc. $ARVN is Rangeley Capital LLC’s 8th Largest Position

Rangeley Capital LLC lowered its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 43.4% in the first quarter, HoldingsChannel.com reports. The fund owned 223,990 shares of the company’s stock after selling 171,810 shares during the quarter. Arvinas comprises about 2.2% of Rangeley Capital LLC’s investment portfolio, making the stock its 8th biggest holding. Rangeley Capital LLC’s holdings in Arvinas were worth $2,374,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ARVN. Armistice Capital LLC raised its stake in Arvinas by 50.0% in the 4th quarter. Armistice Capital LLC now owns 1,800,000 shares of the company’s stock valued at $21,348,000 after purchasing an additional 600,000 shares during the last quarter. TCG Crossover Management LLC acquired a new stake in shares of Arvinas in the third quarter worth approximately $13,780,000. Qube Research & Technologies Ltd grew its holdings in Arvinas by 154.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock valued at $12,668,000 after purchasing an additional 903,337 shares during the period. Millennium Management LLC increased its position in 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 last quarter. Finally, Balyasny Asset Management L.P. increased its position in Arvinas by 469.1% during the third quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after purchasing an additional 995,125 shares during the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on ARVN. Wall Street Zen upgraded shares of Arvinas from a “strong sell” rating to a “sell” rating in a report on Sunday. Weiss Ratings raised shares of Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. Zacks Research upgraded Arvinas from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Citigroup lifted their price target on shares of Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, BTIG Research upped their target price on Arvinas from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.42.

Insider Buying and Selling at Arvinas

In other news, CEO Randy Teel sold 9,657 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $95,990.58. Following the completion of the transaction, the chief executive officer owned 287,218 shares of the company’s stock, valued at approximately $2,854,946.92. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Noah Berkowitz sold 11,108 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $110,413.52. Following the completion of the transaction, the insider owned 191,395 shares of the company’s stock, valued at $1,902,466.30. This represents a 5.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 41,728 shares of company stock valued at $402,649 in the last ninety days. Company insiders own 7.30% of the company’s stock.

Arvinas Stock Performance

Arvinas stock opened at $8.03 on Monday. The firm’s 50-day moving average is $8.16 and its 200-day moving average is $10.49. Arvinas, Inc. has a 1 year low of $6.05 and a 1 year high of $14.51. The company has a market cap of $518.10 million, a P/E ratio of -2.42 and a beta of 1.74.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Monday, May 11th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.05. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The company had revenue of $15.60 million during the quarter, compared to analyst estimates of $16.61 million. During the same period in the prior year, the company earned $1.14 earnings per share. The business’s revenue was down 91.7% compared to the same quarter last year. As a group, sell-side analysts predict that Arvinas, Inc. will post -2.82 earnings per share for the current year.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.