JPMorgan Chase & Co. Increases Position in Arvinas, Inc. (NASDAQ:ARVN)

JPMorgan Chase & Co. lifted its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 18.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,329,303 shares of the company’s stock after purchasing an additional 367,343 shares during the period. JPMorgan Chase & Co. owned about 3.39% of Arvinas worth $57,371,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARVN. nVerses Capital LLC purchased a new stake in shares of Arvinas in the 3rd quarter worth about $39,000. Quest Partners LLC purchased a new position in shares of Arvinas during the second quarter valued at approximately $42,000. Amalgamated Bank lifted its holdings in Arvinas by 29.6% in the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after acquiring an additional 508 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after buying an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after purchasing an additional 2,601 shares in the last quarter. 95.19% of the stock is owned by institutional investors.

Arvinas Trading Up 8.5 %

NASDAQ ARVN opened at $20.50 on Friday. The company has a 50-day moving average price of $23.33 and a two-hundred day moving average price of $25.05. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -4.39 and a beta of 1.82. Arvinas, Inc. has a 52 week low of $17.37 and a 52 week high of $53.08.

Arvinas (NASDAQ:ARVN) last released its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates 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. During the same quarter in the previous year, the firm earned ($1.18) earnings per share. The firm’s revenue for the quarter was up 196.0% compared to the same quarter last year. As a group, equities research analysts expect that Arvinas, Inc. will post -3.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. BTIG Research assumed coverage on shares of Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $87.00 target price on shares of Arvinas in a report on Wednesday, December 11th. BMO Capital Markets reduced their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, Guggenheim reissued a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.50.

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.