Arvinas, Inc. (NASDAQ:ARVN) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 16.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,311 shares of the company’s stock after purchasing an additional 1,305 shares during the quarter. Edgestream Partners L.P.’s holdings in Arvinas were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ARVN. Vanguard Group Inc. increased its stake in Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after acquiring an additional 1,448,166 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Arvinas by 14.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock worth $180,329,000 after acquiring an additional 536,295 shares during the last quarter. RTW Investments LP acquired a new stake in Arvinas during the fourth quarter worth about $173,427,000. Avidity Partners Management LP increased its stake in Arvinas by 14.2% during the fourth quarter. Avidity Partners Management LP now owns 2,985,117 shares of the company’s stock worth $122,867,000 after acquiring an additional 370,157 shares during the last quarter. Finally, Bellevue Group AG increased its stake in Arvinas by 18.0% during the fourth quarter. Bellevue Group AG now owns 2,507,731 shares of the company’s stock worth $103,218,000 after acquiring an additional 382,531 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Trading Down 5.5 %

Shares of NASDAQ ARVN opened at $24.22 on Tuesday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -4.08 and a beta of 1.97. Arvinas, Inc. has a 12-month low of $13.57 and a 12-month high of $53.08. The stock’s 50 day simple moving average is $26.19 and its 200 day simple moving average is $30.71.

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

Analyst Upgrades and Downgrades

ARVN has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a research note on Tuesday, July 30th. Barclays lowered their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Oppenheimer lowered their target price on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. HC Wainwright reiterated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arvinas currently has a consensus rating of “Moderate Buy” and an average price target of $57.50.

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.