Stonepine Capital Management LLC Invests $498,600 in Arvinas, Inc. $ARVN

Stonepine Capital Management LLC acquired a new stake in Arvinas, Inc. (NASDAQ:ARVN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 60,000 shares of the company’s stock, valued at approximately $498,600. Stonepine Capital Management LLC owned approximately 0.09% of Arvinas as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Arvinas during the 2nd quarter valued at approximately $811,000. Corient Private Wealth LP bought a new stake in shares of Arvinas during the second quarter worth approximately $95,000. Bank of America Corp DE bought a new stake in shares of Arvinas during the second quarter worth about $2,102,000. Man Group plc bought a new position in shares of Arvinas in the second quarter valued at approximately $2,128,000. Finally, Jupiter Topco LLC bought a new position in shares of Arvinas in the second quarter valued at approximately $194,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Price Performance

Arvinas stock traded down $0.06 during trading on Friday, reaching $9.18. 600,337 shares of the company were exchanged, compared to its average volume of 829,794. The company has a market capitalization of $592.29 million, a P/E ratio of 91.81 and a beta of 1.71. The stock’s 50 day simple moving average is $8.51 and its two-hundred day simple moving average is $9.84. Arvinas, Inc. has a 52-week low of $6.97 and a 52-week high of $14.51.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $2.95. The firm had revenue of $249.70 million for the quarter, compared to analyst estimates of $60.71 million. Arvinas had a return on equity of 1.91% and a net margin of 2.94%.The firm’s quarterly revenue was up 1014.7% on a year-over-year basis. During the same period last year, the company earned ($0.84) EPS. As a group, equities analysts forecast that Arvinas, Inc. will post 0.05 earnings per share for the current year.

Insider Activity at Arvinas

In other Arvinas news, CFO Andrew Saik sold 5,696 shares of Arvinas stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.16, for a total transaction of $46,479.36. Following the transaction, the chief financial officer directly owned 187,432 shares of the company’s stock, valued at approximately $1,529,445.12. The trade was a 2.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. Corporate insiders own 7.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ARVN. Stephens reissued an “overweight” rating and issued a $18.00 target price on shares of Arvinas in a report on Wednesday, June 3rd. Citigroup reduced their target price on Arvinas from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Weiss Ratings upgraded shares of Arvinas from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of Arvinas from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Morgan Stanley set a $10.00 price target on Arvinas in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.17.

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.