Public Employees Retirement System of Ohio increased its position in Arvinas, Inc. (NASDAQ:ARVN – Free Report) by 876.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,611 shares of the company’s stock after purchasing an additional 87,611 shares during the quarter. Public Employees Retirement System of Ohio owned 0.15% of Arvinas worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. TCG Crossover Management LLC acquired a new position in Arvinas in the 3rd quarter worth $13,780,000. Balyasny Asset Management L.P. grew its stake in shares of Arvinas by 469.1% during the third quarter. Balyasny Asset Management L.P. now owns 1,207,267 shares of the company’s stock valued at $10,286,000 after acquiring an additional 995,125 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Arvinas by 154.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after acquiring an additional 903,337 shares during the last quarter. Millennium Management LLC increased its position in shares of Arvinas by 208.4% during the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after acquiring an additional 885,483 shares during the last quarter. Finally, Armistice Capital LLC lifted its stake in shares of Arvinas by 114.3% in the third quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock worth $10,224,000 after acquiring an additional 640,000 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.
Arvinas Stock Performance
NASDAQ:ARVN opened at $8.06 on Tuesday. The company has a market capitalization of $520.03 million, a price-to-earnings ratio of -2.43 and a beta of 1.71. Arvinas, Inc. has a one year low of $6.05 and a one year high of $14.51. The stock has a 50-day simple moving average of $8.07 and a 200 day simple moving average of $10.32.
Insider Activity
In related news, CFO Andrew Saik sold 5,696 shares of the company’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 sale, the chief financial officer directly owned 187,432 shares of the company’s stock, valued at approximately $1,529,445.12. This represents a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. Also, CEO Randy Teel sold 9,657 shares of Arvinas stock in a transaction on Monday, May 11th. The stock was sold at an average price of $9.94, for a total transaction of $95,990.58. Following the completion of the transaction, the chief executive officer directly owned 287,218 shares of the company’s stock, valued at approximately $2,854,946.92. This represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 worth $402,649. 7.30% of the stock is currently owned by insiders.
Analysts Set New Price Targets
ARVN has been the subject of a number of analyst reports. Zacks Research raised Arvinas from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Stephens reaffirmed an “overweight” rating and issued a $18.00 target price on shares of Arvinas in a research report on Wednesday, June 3rd. Citigroup increased their target price on Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, May 4th. BTIG Research raised their price target on shares of Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a research 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, July 26th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Arvinas currently has a consensus rating of “Hold” and a consensus target price of $15.42.
Check Out Our Latest Stock Analysis 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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