Arvinas, Inc. (NASDAQ:ARVN) Stake Boosted by Profund Advisors LLC

Profund Advisors LLC lifted its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 47.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,954 shares of the company’s stock after purchasing an additional 5,145 shares during the quarter. Profund Advisors LLC’s holdings in Arvinas were worth $425,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in Arvinas by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 491,877 shares of the company’s stock worth $20,248,000 after purchasing an additional 22,479 shares in the last quarter. Norges Bank bought a new stake in shares of Arvinas during the 4th quarter worth about $36,126,000. Nomura Asset Management Co. Ltd. bought a new position in shares of Arvinas in the 4th quarter valued at approximately $2,506,000. TD Asset Management Inc lifted its holdings in Arvinas by 54.9% in the 4th quarter. TD Asset Management Inc now owns 146,948 shares of the company’s stock worth $6,048,000 after purchasing an additional 52,076 shares during the last quarter. Finally, Oliver Luxxe Assets LLC bought a new stake in Arvinas during the fourth quarter worth approximately $319,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Price Performance

ARVN opened at $24.36 on Friday. The company has a market capitalization of $1.67 billion, a P/E ratio of -4.11 and a beta of 1.97. The firm’s fifty day moving average price is $25.79 and its two-hundred day moving average price is $30.46. Arvinas, Inc. has a fifty-two week low of $13.57 and a fifty-two week high of $53.08.

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

Wall Street Analysts Forecast Growth

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

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.