Wasatch Advisors LP Grows Position in Arvinas, Inc. (NASDAQ:ARVN)

Wasatch Advisors LP boosted its position in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 58.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,943 shares of the company's stock after buying an additional 160,510 shares during the period. Wasatch Advisors LP owned 0.63% of Arvinas worth $10,737,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Janus Henderson Group PLC lifted its position in shares of Arvinas by 55.1% during the first quarter. Janus Henderson Group PLC now owns 32,429 shares of the company's stock worth $1,337,000 after purchasing an additional 11,520 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Arvinas by 17.5% during the first quarter. California State Teachers Retirement System now owns 57,059 shares of the company's stock worth $2,355,000 after acquiring an additional 8,497 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Arvinas in the second quarter valued at $185,000. SG Americas Securities LLC raised its position in shares of Arvinas by 137.2% during the 2nd quarter. SG Americas Securities LLC now owns 86,096 shares of the company's stock valued at $2,292,000 after acquiring an additional 49,799 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Arvinas by 6.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 65,907 shares of the company's stock valued at $1,754,000 after purchasing an additional 4,045 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARVN has been the topic of a number of recent research reports. HC Wainwright restated a "buy" rating and issued a $87.00 target price on shares of Arvinas in a report on Thursday, October 31st. Oppenheimer decreased their price target on Arvinas from $50.00 to $40.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Stephens started coverage on Arvinas in a report on Monday, November 18th. They issued an "overweight" rating and a $55.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Arvinas in a research note on Monday, September 9th. Finally, BMO Capital Markets reduced their target price on Arvinas from $90.00 to $88.00 and set an "outperform" rating on the stock in a report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.08.

Arvinas Stock Performance

NASDAQ:ARVN traded up $0.74 during trading hours on Friday, reaching $26.72. The stock had a trading volume of 312,437 shares, compared to its average volume of 647,817. Arvinas, Inc. has a 12-month low of $21.17 and a 12-month high of $53.08. The stock has a 50 day simple moving average of $25.68 and a 200 day simple moving average of $26.74. The stock has a market cap of $1.84 billion, a P/E ratio of -5.72 and a beta of 1.96.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) 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 the consensus estimate of $60.56 million. The company's revenue was up 196.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.18) earnings per share. On average, equities analysts expect that Arvinas, Inc. will post -3.24 earnings per share for the current fiscal year.

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.