Principal Financial Group Inc. Sells 2,217 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Principal Financial Group Inc. trimmed its position in shares of Arvinas, Inc. (NASDAQ:ARVN) by 16.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,090 shares of the company’s stock after selling 2,217 shares during the period. Principal Financial Group Inc.’s holdings in Arvinas were worth $295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in shares of Arvinas during the fourth quarter valued at approximately $264,000. Charles Schwab Investment Management Inc. grew its position in Arvinas by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,474 shares of the company’s stock valued at $19,324,000 after acquiring an additional 39,484 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Arvinas by 98.3% in the fourth quarter. BNP Paribas Financial Markets now owns 197,052 shares of the company’s stock worth $8,111,000 after purchasing an additional 97,661 shares during the period. Jump Financial LLC purchased a new stake in Arvinas in the fourth quarter worth $889,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Arvinas by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 491,877 shares of the company’s stock worth $20,248,000 after purchasing an additional 22,479 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research note on Tuesday, July 30th. Barclays dropped their price objective on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Finally, Oppenheimer lowered their target price on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.50.

Arvinas Trading Up 2.2 %

Shares of ARVN opened at $25.05 on Friday. Arvinas, Inc. has a 12 month low of $13.57 and a 12 month high of $53.08. The stock has a fifty day moving average price of $26.50 and a 200-day moving average price of $31.72. The firm has a market cap of $1.71 billion, a PE ratio of -4.22 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.59. The business had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $33.27 million. During the same quarter last year, the business posted ($1.25) earnings per share. The company’s quarterly revenue was up 40.4% compared to the same quarter last year. As a group, research analysts forecast that Arvinas, Inc. will post -3.51 EPS 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.