Hennion & Walsh Asset Management Inc. Sells 1,782 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Hennion & Walsh Asset Management Inc. decreased its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 2.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 64,125 shares of the company’s stock after selling 1,782 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.09% of Arvinas worth $1,579,000 as of its most recent SEC filing.

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

Arvinas Stock Performance

Shares of ARVN stock opened at $25.92 on Friday. Arvinas, Inc. has a fifty-two week low of $13.57 and a fifty-two week high of $53.08. The company has a market capitalization of $1.77 billion, a P/E ratio of -4.37 and a beta of 1.97. The stock has a 50 day moving average price of $25.45 and a two-hundred day moving average price of $28.05.

Arvinas (NASDAQ:ARVN) last announced its quarterly 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 firm had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $33.27 million. The company’s quarterly revenue was up 40.4% on a year-over-year basis. During the same period in the previous year, the company earned ($1.25) EPS. As a group, equities analysts predict that Arvinas, Inc. will post -3.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARVN. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a research note on Tuesday, July 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. 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. Barclays reduced their price objective on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Oppenheimer decreased their price objective on Arvinas from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.69.

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.