97,611 Shares in Arvinas, Inc. $ARVN Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of Arvinas, Inc. (NASDAQ:ARVN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 97,611 shares of the company’s stock, valued at approximately $811,000. Public Employees Retirement System of Ohio owned 0.15% of Arvinas as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ARVN. Tower Research Capital LLC TRC raised its position in shares of Arvinas by 491.4% in 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 lifted its stake in shares of Arvinas by 109.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after purchasing an additional 3,500 shares during the last quarter. Quantbot Technologies LP bought a new stake in Arvinas during the second quarter valued at about $85,000. Corient Private Wealth LP bought a new stake in Arvinas during the second quarter valued at about $95,000. Finally, Jain Global LLC purchased a new position in Arvinas in the third quarter valued at about $95,000. Institutional investors own 95.19% of the company’s stock.

Arvinas Trading Down 3.5%

Shares of Arvinas stock opened at $8.76 on Thursday. The firm’s 50 day simple moving average is $8.73 and its two-hundred day simple moving average is $9.64. The firm has a market capitalization of $565.20 million, a price-to-earnings ratio of 87.61 and a beta of 1.75. Arvinas, Inc. has a 12-month low of $6.97 and a 12-month high of $14.51.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of ($0.37) by $2.95. The business had revenue of $249.70 million during the quarter, compared to the consensus estimate of $60.71 million. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. The business’s revenue for the quarter was up 1014.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.84) earnings per share. On average, sell-side analysts predict that Arvinas, Inc. will post 0.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore set a $14.00 target price on shares of Arvinas in a report on Monday, August 10th. Morgan Stanley set a $10.00 price objective on shares of Arvinas in a research report on Monday, August 10th. Barclays boosted their price objective on shares of Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Wells Fargo & Company reissued an “equal weight” rating and set a $11.00 target price (down from $15.00) on shares of Arvinas in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Arvinas from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.17.

Insider Activity

In related news, CFO Andrew Saik sold 5,696 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total value of $46,479.36. Following the completion of the transaction, the chief financial officer owned 187,432 shares in the company, valued at $1,529,445.12. This trade represents a 2.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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. 7.30% of the stock is currently owned by insiders.

Arvinas 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.