Arvinas, Inc. (NASDAQ:ARVN) Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC grew its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 45.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,899 shares of the company’s stock after acquiring an additional 37,028 shares during the period. Squarepoint Ops LLC owned about 0.17% of Arvinas worth $3,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. American International Group Inc. boosted its holdings in Arvinas by 1.8% in the first quarter. American International Group Inc. now owns 24,857 shares of the company’s stock valued at $1,026,000 after purchasing an additional 449 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Arvinas by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock valued at $549,000 after buying an additional 486 shares during the period. Amalgamated Bank grew its position in shares of Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after buying an additional 508 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Arvinas by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock worth $519,000 after buying an additional 1,060 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Arvinas in the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and set a $87.00 price target on shares of Arvinas in a report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research note on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Oppenheimer lowered their price objective on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays dropped their price objective on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.50.

Arvinas Price Performance

Shares of Arvinas stock opened at $24.88 on Wednesday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -4.20 and a beta of 1.97. The firm’s fifty day simple moving average is $25.63 and its 200-day simple moving average is $29.96. Arvinas, Inc. has a 12 month low of $13.57 and a 12 month high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its 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 period in the previous year, the company posted ($1.25) earnings per share. Arvinas’s quarterly revenue was up 40.4% on a year-over-year basis. Analysts anticipate 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.