Magnetar Financial LLC Purchases 22,245 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Magnetar Financial LLC grew its position in Arvinas, Inc. (NASDAQ:ARVN) by 112.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,992 shares of the company’s stock after purchasing an additional 22,245 shares during the quarter. Magnetar Financial LLC owned approximately 0.06% of Arvinas worth $1,118,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ARVN. Vanguard Group Inc. boosted its position in Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after acquiring an additional 1,448,166 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Arvinas by 14.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after purchasing an additional 536,295 shares in the last quarter. RTW Investments LP acquired a new stake in Arvinas during the fourth quarter worth approximately $173,427,000. Avidity Partners Management LP grew 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 purchasing an additional 370,157 shares during the period. Finally, Bellevue Group AG increased its holdings in Arvinas by 18.0% in the fourth quarter. Bellevue Group AG now owns 2,507,731 shares of the company’s stock worth $103,218,000 after purchasing an additional 382,531 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Stock Down 5.5 %

ARVN stock opened at $24.22 on Tuesday. The business has a 50 day moving average of $26.19 and a 200-day moving average of $30.71. Arvinas, Inc. has a 12-month low of $13.57 and a 12-month high of $53.08. The firm has a market cap of $1.66 billion, a PE ratio of -4.08 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.59. The company had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $33.27 million. During the same period last year, the firm posted ($1.25) earnings per share. Arvinas’s quarterly revenue was up 40.4% compared to the same quarter last year. On average, research analysts expect that Arvinas, Inc. will post -3.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About Arvinas

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.