JPMorgan Chase & Co. Purchases 367,343 Shares of Arvinas, Inc. (NASDAQ:ARVN)

JPMorgan Chase & Co. increased its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 18.7% during the third quarter, HoldingsChannel reports. The fund owned 2,329,303 shares of the company’s stock after buying an additional 367,343 shares during the period. JPMorgan Chase & Co.’s holdings in Arvinas were worth $57,371,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new position in shares of Arvinas during the second quarter worth approximately $42,000. nVerses Capital LLC acquired a new position in Arvinas during the 3rd quarter worth approximately $39,000. Amalgamated Bank raised its position 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 purchasing an additional 508 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after acquiring an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after purchasing an additional 2,601 shares during the period. 95.19% of the stock is currently owned by institutional investors.

Arvinas Trading Up 8.5 %

ARVN opened at $20.50 on Friday. Arvinas, Inc. has a 1-year low of $17.37 and a 1-year high of $53.08. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -4.39 and a beta of 1.82. The company’s fifty day moving average price is $23.33 and its two-hundred day moving average price is $25.05.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share 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 analyst estimates of $60.56 million. The company’s revenue was up 196.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.18) EPS. As a group, equities analysts forecast that Arvinas, Inc. will post -3.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.