Brummer Multi Strategy AB Raises Holdings in Arvinas, Inc. $ARVN

Brummer Multi Strategy AB lifted its stake in shares of Arvinas, Inc. (NASDAQ:ARVNFree Report) by 71.4% during the first quarter, HoldingsChannel.com reports. The fund owned 285,076 shares of the company’s stock after buying an additional 118,734 shares during the quarter. Arvinas makes up approximately 12.5% of Brummer Multi Strategy AB’s investment portfolio, making the stock its 3rd biggest holding. Brummer Multi Strategy AB’s holdings in Arvinas were worth $3,022,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ARVN. Tower Research Capital LLC TRC boosted its holdings in shares of Arvinas by 491.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after purchasing an additional 4,835 shares during the period. Canada Pension Plan Investment Board grew its stake in Arvinas by 109.4% in the second 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 in the last quarter. Jain Global LLC purchased a new position in Arvinas during the 3rd quarter worth $95,000. Oxford Asset Management LLP increased its holdings in Arvinas by 15.5% during the 2nd quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock worth $123,000 after purchasing an additional 2,242 shares during the period. Finally, Virtu Financial LLC bought a new stake in Arvinas during the 3rd quarter valued at $124,000. Institutional investors own 95.19% of the company’s stock.

Arvinas Stock Down 3.0%

Shares of NASDAQ:ARVN opened at $8.03 on Friday. The firm has a 50 day moving average of $8.34 and a 200 day moving average of $10.64. The company has a market capitalization of $518.10 million, a price-to-earnings ratio of -2.42 and a beta of 1.74. Arvinas, Inc. has a 52 week low of $6.05 and a 52 week high of $14.51.

Arvinas (NASDAQ:ARVNGet Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.95) by $0.05. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The business had revenue of $15.60 million for the quarter, compared to analysts’ expectations of $16.61 million. During the same quarter last year, the firm earned $1.14 EPS. The business’s revenue for the quarter was down 91.7% on a year-over-year basis. On average, sell-side analysts expect that Arvinas, Inc. will post -2.82 EPS for the current year.

Insider Buying and Selling

In related news, CEO Randy Teel sold 9,657 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $95,990.58. Following the sale, the chief executive officer owned 287,218 shares of the company’s stock, valued at $2,854,946.92. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew Saik sold 5,696 shares of Arvinas stock in a transaction dated Wednesday, June 24th. The shares were 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 disclosure for this sale is available in the SEC filing. 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 sold 41,728 shares of company stock worth $402,649 in the last three months. 7.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on ARVN shares. Weiss Ratings upgraded Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Stephens restated an “overweight” rating and set a $18.00 price target on shares of Arvinas in a research note on Wednesday, June 3rd. Barclays lifted their price objective on Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Citigroup upped their price objective on shares of Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Zacks Research upgraded shares of Arvinas from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Arvinas has an average rating of “Hold” and a consensus target price of $15.42.

Check Out Our Latest Analysis on Arvinas

Arvinas Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Arvinas (NASDAQ:ARVN)

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