Assenagon Asset Management S.A. Buys 777 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Assenagon Asset Management S.A. increased its stake in Arvinas, Inc. (NASDAQ:ARVN) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,518 shares of the company’s stock after acquiring an additional 777 shares during the period. Assenagon Asset Management S.A. owned about 0.20% of Arvinas worth $2,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after acquiring an additional 367,343 shares during the last quarter. Baker BROS. Advisors LP bought a new stake in shares of Arvinas in the 3rd quarter valued at about $9,989,000. Wasatch Advisors LP lifted its stake in shares of Arvinas by 58.3% in the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after acquiring an additional 160,510 shares during the last quarter. Barclays PLC lifted its stake in shares of Arvinas by 198.9% in the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after acquiring an additional 80,984 shares during the last quarter. Finally, Magnetar Financial LLC lifted its stake in shares of Arvinas by 112.7% in the 2nd quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock valued at $1,118,000 after acquiring an additional 22,245 shares during the last quarter. Institutional investors own 95.19% of the company’s stock.

Arvinas Stock Up 2.9 %

Arvinas stock opened at $18.57 on Wednesday. The company has a market capitalization of $1.28 billion, a P/E ratio of -3.98 and a beta of 1.87. The stock’s 50 day moving average is $21.26 and its 200 day moving average is $24.50. Arvinas, Inc. has a twelve month low of $17.08 and a twelve month high of $53.08.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. The business’s quarterly revenue was up 196.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.18) EPS. As a group, equities analysts expect that Arvinas, Inc. will post -3.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on ARVN. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. BMO Capital Markets lowered 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. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price target on shares of Arvinas in a research report on Wednesday, December 11th. Oppenheimer lowered their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, BTIG Research began coverage on Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target for the company. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Arvinas currently has an average rating of “Moderate Buy” and a consensus target price 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.