Assenagon Asset Management S.A. Invests $3.44 Million in Arvinas, Inc. (NASDAQ:ARVN)

Assenagon Asset Management S.A. acquired a new stake in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 139,741 shares of the company's stock, valued at approximately $3,442,000. Assenagon Asset Management S.A. owned approximately 0.20% of Arvinas as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ARVN. Vanguard Group Inc. lifted its holdings in Arvinas by 29.9% during the 1st quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company's stock worth $260,046,000 after buying an additional 1,448,166 shares during the last quarter. Swiss National Bank increased its stake in Arvinas by 27.5% during the first quarter. Swiss National Bank now owns 114,100 shares of the company's stock valued at $4,710,000 after purchasing an additional 24,600 shares during the last quarter. SG Americas Securities LLC increased its stake in Arvinas by 137.2% during the second quarter. SG Americas Securities LLC now owns 86,096 shares of the company's stock valued at $2,292,000 after purchasing an additional 49,799 shares during the last quarter. Candriam S.C.A. lifted its position in shares of Arvinas by 32.0% in the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company's stock worth $16,250,000 after buying an additional 147,904 shares during the last quarter. Finally, Magnetar Financial LLC lifted its position in shares of Arvinas by 112.7% in the 2nd quarter. Magnetar Financial LLC now owns 41,992 shares of the company's stock worth $1,118,000 after buying an additional 22,245 shares during the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays cut their target price on shares of Arvinas from $60.00 to $48.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Cantor Fitzgerald restated an "overweight" rating on shares of Arvinas in a research report on Monday, September 9th. Wedbush reaffirmed an "outperform" rating and issued a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. HC Wainwright restated a "buy" rating and set a $87.00 price target on shares of Arvinas in a research report on Thursday. Finally, Oppenheimer dropped their price objective on shares of Arvinas from $50.00 to $40.00 and set an "outperform" rating on the stock in a report on Thursday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.92.

Arvinas Stock Performance

NASDAQ:ARVN traded down $1.14 on Thursday, hitting $26.52. 462,638 shares of the stock were exchanged, compared to its average volume of 718,816. The company's 50-day moving average price is $25.58 and its 200 day moving average price is $27.85. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -4.43 and a beta of 1.97. Arvinas, Inc. has a 52 week low of $14.02 and a 52 week high of $53.08.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to the consensus estimate of $60.56 million. The firm's revenue was up 196.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.18) earnings per share. As a group, equities research analysts predict that Arvinas, Inc. will post -3.51 earnings per share for the current 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.