Globeflex Capital L P Purchases New Shares in Arvinas, Inc. $ARVN

Globeflex Capital L P purchased a new position in shares of Arvinas, Inc. (NASDAQ:ARVN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 59,331 shares of the company’s stock, valued at approximately $493,000. Globeflex Capital L P owned 0.09% of Arvinas at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARVN. Quantbot Technologies LP acquired a new position in Arvinas in the second quarter valued at $85,000. Ieq Capital LLC purchased a new stake in shares of Arvinas in the second quarter valued at about $344,000. BlackRock Inc. acquired a new stake in shares of Arvinas during the second quarter worth about $63,232,000. Deutsche Bank AG acquired a new stake in shares of Arvinas during the second quarter worth about $1,256,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Arvinas during the second quarter worth about $2,119,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

Arvinas Stock Up 2.8%

Shares of NASDAQ:ARVN opened at $9.60 on Wednesday. Arvinas, Inc. has a fifty-two week low of $6.97 and a fifty-two week high of $14.51. The firm’s 50-day simple moving average is $8.45 and its 200-day simple moving average is $9.89. The company has a market cap of $619.39 million, a price-to-earnings ratio of 96.01 and a beta of 1.71.

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

Insider Transactions at Arvinas

In other Arvinas news, CFO Andrew Saik sold 5,696 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total transaction of $46,479.36. Following the transaction, the chief financial officer owned 187,432 shares in the company, 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 SEC, 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. Insiders own 7.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Evercore set a $14.00 price target on Arvinas in a research report on Monday, August 10th. Wall Street Zen raised Arvinas from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Stephens reiterated an “overweight” rating and issued a $18.00 target price on shares of Arvinas in a research note on Wednesday, June 3rd. Zacks Research raised Arvinas from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Barclays upped their price target on Arvinas from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.17.

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.