Stonepine Capital Management LLC Buys Shares of 60,000 Arvinas, Inc. $ARVN

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

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in shares of Arvinas in the 1st quarter worth approximately $727,000. Jacobs Levy Equity Management Inc. bought a new position in Arvinas during the first quarter valued at $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Arvinas by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after purchasing an additional 2,122 shares during the period. Millennium Management LLC increased its position in Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after buying an additional 885,483 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Arvinas by 108.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company’s stock worth $6,339,000 after buying an additional 469,394 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Insider Buying and Selling

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 completion of the transaction, the chief financial officer owned 187,432 shares of the company’s stock, valued at $1,529,445.12. The trade was a 2.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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. 7.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ARVN. Zacks Research raised Arvinas from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. BTIG Research reissued a “buy” rating and issued a $18.00 price objective on shares of Arvinas in a report on Tuesday, August 4th. Wedbush boosted their price objective on Arvinas from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Arvinas from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Barclays upped their price objective on shares of Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.17.

Arvinas Price Performance

NASDAQ:ARVN opened at $9.24 on Friday. The company has a market cap of $596.16 million, a P/E ratio of 92.41 and a beta of 1.71. The stock’s fifty day moving average price is $8.51 and its two-hundred day moving average price is $9.84. Arvinas, Inc. has a 1 year low of $6.97 and a 1 year high of $14.51.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $2.95. Arvinas had a return on equity of 1.91% and a net margin of 2.94%.The company had revenue of $249.70 million during the quarter, compared to analysts’ expectations of $60.71 million. During the same period in the previous year, the business earned ($0.84) earnings per share. The firm’s quarterly revenue was up 1014.7% compared to the same quarter last year. On average, analysts expect that Arvinas, Inc. will post 0.05 earnings per share for the current fiscal year.

About Arvinas

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.