Arvinas, Inc. (NASDAQ:ARVN) Position Increased by Franklin Resources Inc.

Franklin Resources Inc. raised its position in shares of Arvinas, Inc. (NASDAQ:ARVN) by 11.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,190 shares of the company’s stock after buying an additional 7,166 shares during the quarter. Franklin Resources Inc.’s holdings in Arvinas were worth $1,776,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ARVN. M&T Bank Corp lifted its position in shares of Arvinas by 53.5% in the third quarter. M&T Bank Corp now owns 27,137 shares of the company’s stock worth $669,000 after purchasing an additional 9,462 shares in the last quarter. Barclays PLC lifted its position in shares of Arvinas by 198.9% in the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after purchasing an additional 80,984 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Arvinas by 36.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock worth $2,238,000 after purchasing an additional 24,223 shares in the last quarter. XTX Topco Ltd bought a new position in Arvinas during the third quarter valued at approximately $453,000. Finally, Zacks Investment Management raised its position in Arvinas by 9.8% during the third quarter. Zacks Investment Management now owns 89,827 shares of the company’s stock valued at $2,212,000 after acquiring an additional 8,029 shares in the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARVN has been the topic of several recent research reports. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research report on Wednesday, December 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Stephens initiated coverage on shares of Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective on the stock. Finally, Oppenheimer cut their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Arvinas Stock Down 0.4 %

Arvinas stock opened at $19.00 on Friday. The stock has a 50-day simple moving average of $24.20 and a 200 day simple moving average of $25.34. Arvinas, Inc. has a 12-month low of $17.37 and a 12-month high of $53.08. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -4.07 and a beta of 1.82.

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

Arvinas Company 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.