Rangeley Capital LLC decreased its holdings in Arvinas, Inc. (NASDAQ:ARVN – Free Report) by 43.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 223,990 shares of the company’s stock after selling 171,810 shares during the quarter. Arvinas accounts for about 2.2% of Rangeley Capital LLC’s holdings, making the stock its 8th largest holding. Rangeley Capital LLC owned 0.35% of Arvinas worth $2,374,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new stake in Arvinas in the 1st quarter valued at about $727,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Arvinas in the first quarter valued at approximately $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Arvinas by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after purchasing an additional 2,122 shares in the last quarter. Millennium Management LLC grew its position in shares of Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after purchasing an additional 885,483 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Arvinas by 108.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company’s stock valued at $6,339,000 after purchasing an additional 469,394 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Arvinas news, insider Noah Berkowitz sold 11,108 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $110,413.52. Following the transaction, the insider owned 191,395 shares in the company, valued at approximately $1,902,466.30. The trade was a 5.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Randy Teel sold 9,657 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $95,990.58. Following the transaction, the chief executive officer directly owned 287,218 shares in the company, valued at $2,854,946.92. This represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 41,728 shares of company stock valued at $402,649 over the last three months. 7.30% of the stock is currently owned by company insiders.
Arvinas Stock Performance
Arvinas (NASDAQ:ARVN – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.90) earnings per share 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 firm had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $16.61 million. During the same quarter in the prior year, the business earned $1.14 EPS. Arvinas’s quarterly revenue was down 91.7% compared to the same quarter last year. As a group, research analysts predict that Arvinas, Inc. will post -2.82 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Stephens reissued an “overweight” rating and set a $18.00 price target on shares of Arvinas in a research report on Wednesday, June 3rd. Weiss Ratings raised Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. Zacks Research upgraded shares of Arvinas from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. BTIG Research upped their price target on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Arvinas from a “strong sell” rating to a “sell” rating in a research note on Sunday. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.42.
View Our Latest Report on Arvinas
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.
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