Arvinas, Inc. $ARVN Stake Boosted by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lifted its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 876.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,611 shares of the company’s stock after purchasing an additional 87,611 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Arvinas were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Sei Investments Co. grew its stake in Arvinas by 160.7% during the 1st quarter. Sei Investments Co. now owns 78,587 shares of the company’s stock worth $833,000 after buying an additional 48,444 shares during the last quarter. Globeflex Capital L P lifted its stake in Arvinas by 433.2% in the first quarter. Globeflex Capital L P now owns 59,331 shares of the company’s stock valued at $629,000 after buying an additional 48,203 shares during the last quarter. Quantedge Capital Pte Ltd acquired a new position in shares of Arvinas during the first quarter valued at $165,000. Dimensional Fund Advisors LP boosted its holdings in shares of Arvinas by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 485,764 shares of the company’s stock valued at $5,147,000 after acquiring an additional 13,344 shares during the period. Finally, Brummer Multi Strategy AB boosted its holdings in shares of Arvinas by 71.4% during the first quarter. Brummer Multi Strategy AB now owns 285,076 shares of the company’s stock valued at $3,022,000 after acquiring an additional 118,734 shares during the period. Institutional investors own 95.19% of the company’s stock.

Arvinas Stock Performance

Shares of ARVN opened at $8.06 on Tuesday. The firm has a market capitalization of $520.03 million, a price-to-earnings ratio of -2.43 and a beta of 1.71. Arvinas, Inc. has a one year low of $6.05 and a one year high of $14.51. The stock’s fifty day moving average is $8.07 and its 200-day moving average is $10.32.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.05. The business had revenue of $15.60 million during the quarter, compared to the consensus estimate of $16.61 million. Arvinas had a negative net margin of 247.54% and a negative return on equity of 44.38%. The company’s quarterly revenue was down 91.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. Analysts forecast that Arvinas, Inc. will post -2.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BTIG Research increased their price objective on shares of Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Stephens reissued an “overweight” rating and set a $18.00 target price on shares of Arvinas in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Arvinas from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 26th. Citigroup raised their price target on shares of Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Barclays lifted their price target on Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.42.

Insiders Place Their Bets

In other news, CFO Andrew Saik sold 5,696 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total value of $46,479.36. Following the completion of the sale, the chief financial officer directly owned 187,432 shares of the company’s stock, valued at approximately $1,529,445.12. This represents a 2.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 that occurred on 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 trade represents a 5.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 41,728 shares of company stock worth $402,649. 7.30% of the stock is owned by corporate insiders.

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.