Arvinas, Inc. (NASDAQ:ARVN) Shares Bought by Wasatch Advisors LP

Wasatch Advisors LP lifted its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 58.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 435,943 shares of the company’s stock after buying an additional 160,510 shares during the period. Wasatch Advisors LP owned approximately 0.63% of Arvinas worth $10,737,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ARVN. nVerses Capital LLC acquired a new stake in shares of Arvinas during the third quarter worth $39,000. Quest Partners LLC acquired a new stake in shares of Arvinas during the second quarter worth $42,000. Amalgamated Bank lifted its stake in shares of Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after buying an additional 508 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after buying an additional 440 shares during the period. Finally, Quantbot Technologies LP lifted its stake in shares of Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after buying an additional 2,601 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ARVN shares. HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Stephens initiated coverage on shares of Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price for the company. BMO Capital Markets reduced their target price on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Finally, Oppenheimer reduced their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Arvinas presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.08.

Arvinas Stock Performance

ARVN opened at $26.72 on Friday. Arvinas, Inc. has a fifty-two week low of $21.17 and a fifty-two week high of $53.08. The company has a fifty day moving average of $25.68 and a two-hundred day moving average of $26.77. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -5.72 and a beta of 1.96.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. During the same period in the previous year, the firm posted ($1.18) EPS. The firm’s quarterly revenue was up 196.0% on a year-over-year basis. On average, equities research analysts forecast that Arvinas, Inc. will post -3.32 earnings per share for the current year.

Arvinas Company 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.