Quinn Opportunity Partners LLC Invests $524,000 in Arvinas, Inc. $ARVN

Quinn Opportunity Partners LLC acquired a new position in Arvinas, Inc. (NASDAQ:ARVN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 71,263 shares of the company’s stock, valued at approximately $524,000. Quinn Opportunity Partners LLC owned approximately 0.10% of Arvinas at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. New York State Common Retirement Fund raised its stake in shares of Arvinas by 19.0% in the first quarter. New York State Common Retirement Fund now owns 24,313 shares of the company’s stock worth $171,000 after buying an additional 3,888 shares during the period. CWM LLC lifted its holdings in Arvinas by 2,317.5% during the first quarter. CWM LLC now owns 7,615 shares of the company’s stock valued at $53,000 after purchasing an additional 7,300 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Arvinas by 60.2% in the first quarter. Victory Capital Management Inc. now owns 72,810 shares of the company’s stock worth $511,000 after purchasing an additional 27,360 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Arvinas during the 1st quarter valued at $124,000. Finally, Federated Hermes Inc. raised its position in shares of Arvinas by 1,965.0% during the 1st quarter. Federated Hermes Inc. now owns 980,674 shares of the company’s stock valued at $6,884,000 after purchasing an additional 933,183 shares during the period. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Trading Down 7.1%

Shares of ARVN opened at $10.41 on Thursday. Arvinas, Inc. has a 12-month low of $5.90 and a 12-month high of $27.00. The firm has a fifty day moving average price of $9.01 and a 200-day moving average price of $7.95. The firm has a market capitalization of $668.53 million, a P/E ratio of -12.85 and a beta of 2.38.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.27. The business had revenue of $41.90 million for the quarter, compared to the consensus estimate of $29.36 million. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The company’s revenue for the quarter was down 59.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.68) EPS. Analysts predict that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Arvinas announced that its Board of Directors has authorized a stock repurchase program on Wednesday, September 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 17.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on ARVN shares. BTIG Research boosted their price objective on Arvinas from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. HC Wainwright reduced their target price on Arvinas from $24.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Wedbush reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Arvinas in a research note on Thursday, November 6th. Barclays increased their target price on Arvinas from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Wells Fargo & Company reduced their price target on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Eleven 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.39.

Insider Activity at Arvinas

In other news, Director Briggs Morrison purchased 30,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were acquired 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 owned 76,021 shares of the company’s stock, valued at $575,478.97. This trade represents a 65.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.73% of the company’s stock.

Arvinas Profile

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.