FNY Investment Advisers LLC Purchases Shares of 37,520 Arvinas, Inc. $ARVN

FNY Investment Advisers LLC purchased a new stake in Arvinas, Inc. (NASDAQ:ARVN) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 37,520 shares of the company’s stock, valued at approximately $276,000. FNY Investment Advisers LLC owned about 0.05% of Arvinas as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Arvinas by 965.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company’s stock valued at $33,000 after purchasing an additional 4,219 shares during the last quarter. CWM LLC boosted its holdings in shares of Arvinas by 2,317.5% in the 1st quarter. CWM LLC now owns 7,615 shares of the company’s stock valued at $53,000 after purchasing an additional 7,300 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Arvinas in the 2nd quarter valued at $74,000. Aigen Investment Management LP purchased a new position in shares of Arvinas in the 1st quarter valued at $77,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Arvinas in the 1st quarter valued at $80,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ARVN shares. Stephens cut their target price on shares of Arvinas from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, September 18th. Barclays started coverage on shares of Arvinas in a research note on Wednesday, September 17th. They issued an “overweight” rating and a $16.00 target price on the stock. Wedbush reissued a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Arvinas in a research note on Thursday, September 18th. BTIG Research cut their target price on shares of Arvinas from $16.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, September 18th. Finally, Piper Sandler reissued an “overweight” rating and issued a $16.00 target price on shares of Arvinas in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.18.

Insider Transactions at Arvinas

In other news, Director Briggs Morrison purchased 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were purchased at an average price of $7.57 per share, with a total value of $227,100.00. Following the purchase, the director directly owned 76,021 shares of the company’s stock, valued at approximately $575,478.97. This represents a 65.19% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.73% of the stock is owned by company insiders.

Arvinas Price Performance

Arvinas stock opened at $9.31 on Thursday. Arvinas, Inc. has a 12-month low of $5.90 and a 12-month high of $29.61. The company has a market capitalization of $683.54 million, a price-to-earnings ratio of -9.22 and a beta of 2.39. The firm’s fifty day moving average price is $8.27 and its 200 day moving average price is $7.71.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.03. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. The firm had revenue of $22.40 million for the quarter, compared to the consensus estimate of $34.42 million. During the same quarter in the previous year, the firm posted ($0.49) EPS. The firm’s quarterly revenue was down 70.7% on a year-over-year basis. Analysts forecast that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Arvinas declared that its board has approved a share buyback program on Wednesday, September 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 17.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.