Patient Square Capital LP Acquires New Position in Arvinas, Inc. (NASDAQ:ARVN)

Patient Square Capital LP acquired a new position in shares of Arvinas, Inc. (NASDAQ:ARVN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 86,627 shares of the company’s stock, valued at approximately $1,661,000. Arvinas makes up about 0.6% of Patient Square Capital LP’s holdings, making the stock its 18th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. KBC Group NV lifted its position in shares of Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after acquiring an additional 1,255 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Arvinas in the 4th quarter valued at approximately $171,000. Teacher Retirement System of Texas raised its holdings in Arvinas by 19.0% during the fourth quarter. Teacher Retirement System of Texas now owns 14,295 shares of the company’s stock worth $274,000 after purchasing an additional 2,280 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Arvinas by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,570 shares of the company’s stock worth $279,000 after purchasing an additional 1,367 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Arvinas during the fourth quarter worth $332,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Arvinas from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Wells Fargo & Company decreased their price target on shares of Arvinas from $26.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Barclays cut their price target on Arvinas from $32.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. HC Wainwright cut their price objective on shares of Arvinas from $81.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, Morgan Stanley cut their target price on Arvinas from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.91.

Arvinas Price Performance

Shares of Arvinas stock opened at $6.29 on Wednesday. Arvinas, Inc. has a 1-year low of $5.94 and a 1-year high of $37.38. The company has a market capitalization of $459.11 million, a PE ratio of -2.27 and a beta of 2.21. The business has a 50-day moving average of $8.20 and a 200-day moving average of $16.48.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter last year, the firm posted ($0.97) earnings per share. The company’s revenue was up 646.2% compared to the same quarter last year. On average, equities analysts expect that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John G. Houston sold 31,338 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the sale, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. This represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ian Taylor sold 9,020 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the transaction, the insider now directly owns 159,121 shares in the company, valued at $2,658,911.91. The trade was a 5.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,230 shares of company stock worth $769,402. 4.73% of the stock is currently owned by insiders.

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.