JPMorgan Chase & Co. Grows Position in Arvinas, Inc. (NASDAQ:ARVN)

JPMorgan Chase & Co. lifted its holdings in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 18.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,329,303 shares of the company's stock after purchasing an additional 367,343 shares during the quarter. JPMorgan Chase & Co. owned 3.39% of Arvinas worth $57,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Arvinas Price Performance

Shares of NASDAQ ARVN traded up $1.61 during mid-day trading on Friday, hitting $20.50. 854,248 shares of the company's stock traded hands, compared to its average volume of 762,274. Arvinas, Inc. has a 1 year low of $17.37 and a 1 year high of $53.08. The company's 50-day moving average is $23.33 and its two-hundred day moving average is $25.05. The company has a market capitalization of $1.41 billion, a P/E ratio of -4.39 and a beta of 1.87.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued 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 company had revenue of $102.40 million for the quarter, compared to analysts' expectations of $60.56 million. The company's revenue for the quarter was up 196.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.18) earnings per share. Equities analysts anticipate that Arvinas, Inc. will post -3.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BMO Capital Markets dropped 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. Guggenheim reissued a "buy" rating on shares of Arvinas in a research note on Thursday, December 12th. BTIG Research started coverage on Arvinas in a report on Tuesday, December 10th. They issued a "buy" rating and a $69.00 price target on the stock. Stephens began coverage on shares of Arvinas in a report on Monday, November 18th. They set an "overweight" rating and a $55.00 price objective for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Arvinas in a report on Monday, September 9th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $63.50.

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.