Braidwell LP Boosts Stock Position in Arvinas, Inc. (NASDAQ:ARVN)

Braidwell LP boosted its stake in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 148.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,284,472 shares of the company's stock after acquiring an additional 767,242 shares during the period. Braidwell LP owned 1.87% of Arvinas worth $31,637,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new stake in shares of Arvinas in the 2nd quarter worth approximately $42,000. nVerses Capital LLC purchased a new stake in Arvinas in the third quarter worth $39,000. Amalgamated Bank raised its stake in shares of Arvinas by 29.6% in the second quarter. Amalgamated Bank now owns 2,223 shares of the company's stock valued at $59,000 after buying an additional 508 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company's stock valued at $61,000 after buying an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of Arvinas by 147.3% during the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company's stock worth $108,000 after acquiring an additional 2,601 shares during the period. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Stock Performance

Arvinas stock traded up $0.74 during midday trading on Friday, hitting $26.72. 312,437 shares of the company's stock were exchanged, compared to its average volume of 715,162. The stock has a 50-day moving average price of $25.68 and a two-hundred day moving average price of $26.77. Arvinas, Inc. has a 52-week low of $21.17 and a 52-week high of $53.08. The company 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to analysts' expectations of $60.56 million. The firm's revenue for the quarter was up 196.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.18) EPS. As a group, sell-side analysts expect that Arvinas, Inc. will post -3.32 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.