Affinity Asset Advisors LLC Grows Position in Arvinas, Inc. (NASDAQ:ARVN)

Affinity Asset Advisors LLC lifted its holdings in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 180.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 630,000 shares of the company's stock after purchasing an additional 405,000 shares during the quarter. Arvinas comprises 1.6% of Affinity Asset Advisors LLC's holdings, making the stock its 19th biggest position. Affinity Asset Advisors LLC owned approximately 0.92% of Arvinas worth $12,077,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ARVN. Norges Bank bought a new position in Arvinas in the fourth quarter valued at $23,845,000. JPMorgan Chase & Co. raised its holdings in Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company's stock worth $57,371,000 after acquiring an additional 367,343 shares in the last quarter. BIT Capital GmbH increased its position in shares of Arvinas by 291.7% during the 4th quarter. BIT Capital GmbH now owns 263,527 shares of the company's stock worth $5,052,000 after purchasing an additional 196,246 shares during the last quarter. New Leaf Venture Partners L.L.C. raised its stake in shares of Arvinas by 10.5% during the 4th quarter. New Leaf Venture Partners L.L.C. now owns 1,585,721 shares of the company's stock worth $30,398,000 after purchasing an additional 151,000 shares in the last quarter. Finally, Finepoint Capital LP increased its holdings in shares of Arvinas by 24.3% during the 4th quarter. Finepoint Capital LP now owns 713,778 shares of the company's stock worth $13,683,000 after acquiring an additional 139,400 shares during the last quarter. 95.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wedbush downgraded Arvinas from an "outperform" rating to a "neutral" rating and cut their target price for the company from $57.00 to $12.00 in a research report on Wednesday, March 12th. HC Wainwright reaffirmed a "buy" rating and issued a $81.00 target price on shares of Arvinas in a report on Monday, April 7th. Guggenheim cut their price target on Arvinas from $57.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Oppenheimer downgraded shares of Arvinas from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Arvinas in a report on Friday, February 7th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Arvinas has an average rating of "Moderate Buy" and an average price target of $34.33.

Insider Activity

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the completion of the transaction, the insider now owns 110,023 shares of the company's stock, valued at $945,097.57. This represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares of the company's stock, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,230 shares of company stock worth $769,402 in the last ninety days. Company insiders own 5.23% of the company's stock.

Arvinas Trading Up 12.4 %

Shares of ARVN stock traded up $0.95 during trading hours on Friday, reaching $8.60. 3,186,900 shares of the company's stock were exchanged, compared to its average volume of 1,120,815. Arvinas, Inc. has a 1 year low of $5.94 and a 1 year high of $37.38. The stock has a market cap of $591.44 million, a PE ratio of -3.10 and a beta of 2.30. The stock's fifty day moving average price is $11.49 and its two-hundred day moving average price is $18.60.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter in the previous year, the company earned ($2.53) earnings per share. On average, equities analysts expect that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

About Arvinas

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.