Caxton Associates LLP lessened its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN – Free Report) by 42.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 260,016 shares of the company’s stock after selling 194,501 shares during the quarter. Caxton Associates LLP owned approximately 0.40% of Arvinas worth $2,756,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. TCG Crossover Management LLC purchased a new position in shares of Arvinas in the third quarter worth about $13,780,000. Balyasny Asset Management L.P. boosted its position in Arvinas by 469.1% during the third quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock worth $10,286,000 after acquiring an additional 995,125 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Arvinas by 154.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock valued at $12,668,000 after acquiring an additional 903,337 shares in the last quarter. Millennium Management LLC grew its stake in Arvinas by 208.4% during the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after acquiring an additional 885,483 shares in the last quarter. Finally, Armistice Capital LLC raised its holdings in Arvinas by 114.3% in the 3rd quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock valued at $10,224,000 after acquiring an additional 640,000 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.
Arvinas Price Performance
Arvinas stock opened at $8.03 on Friday. The firm has a 50 day simple moving average of $8.16 and a 200-day simple moving average of $10.50. The stock has a market cap of $518.10 million, a price-to-earnings ratio of -2.42 and a beta of 1.74. Arvinas, Inc. has a 1-year low of $6.05 and a 1-year high of $14.51.
Wall Street Analyst Weigh In
ARVN has been the subject of a number of analyst reports. Weiss Ratings upgraded Arvinas from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. Citigroup lifted their price objective on Arvinas from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Barclays upped their target price on Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Finally, BTIG Research raised their target price on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.42.
Read Our Latest Stock Analysis on ARVN
Insider Buying and Selling
In other Arvinas news, CEO Randy Teel sold 9,657 shares of Arvinas stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $95,990.58. Following the completion of the sale, the chief executive officer directly owned 287,218 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Noah Berkowitz sold 11,108 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $9.94, for a total transaction of $110,413.52. Following the completion of the sale, the insider directly owned 191,395 shares in the company, valued at $1,902,466.30. This trade represents a 5.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 41,728 shares of company stock valued at $402,649. 7.30% of the stock is currently owned by insiders.
Arvinas Company 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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