Caxton Associates LLP Lowers Stock Holdings in Arvinas, Inc. $ARVN

Caxton Associates LLP cut its position in Arvinas, Inc. (NASDAQ:ARVN) by 42.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 260,016 shares of the company’s stock after selling 194,501 shares during the period. Caxton Associates LLP’s holdings in Arvinas were worth $2,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in Arvinas by 491.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after acquiring an additional 4,835 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after acquiring an additional 3,500 shares in the last quarter. Jain Global LLC acquired a new position in Arvinas in the 3rd quarter valued at about $95,000. Oxford Asset Management LLP increased its stake in Arvinas by 15.5% during the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock worth $123,000 after purchasing an additional 2,242 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Arvinas during the third quarter worth about $124,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Stock Performance

ARVN stock opened at $8.03 on Friday. The company’s 50 day moving average price is $8.16 and its 200 day moving average price is $10.50. The firm has a market capitalization of $518.10 million, a price-to-earnings ratio of -2.42 and a beta of 1.74. Arvinas, Inc. has a fifty-two week low of $6.05 and a fifty-two week high of $14.51.

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

Insider Activity

In other news, CFO Andrew Saik sold 5,696 shares of Arvinas stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total transaction 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. The trade was a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 on Monday, May 11th. The shares were sold at an average price of $9.94, for a total value of $110,413.52. Following the completion of the transaction, the insider directly owned 191,395 shares in the company, valued at $1,902,466.30. This trade represents a 5.49% decrease in their position. 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ARVN has been the subject of several recent research reports. Wall Street Zen lowered shares of Arvinas from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Citigroup upped their target price 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. Zacks Research raised shares of Arvinas from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Stephens restated an “overweight” rating and issued a $18.00 price target on shares of Arvinas in a research note on Wednesday, June 3rd. Finally, Barclays upped their price objective on Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.42.

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.