Rhumbline Advisers Raises Position in Arvinas, Inc. (NASDAQ:ARVN)

Rhumbline Advisers lifted its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 26.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,229 shares of the company’s stock after purchasing an additional 19,024 shares during the period. Rhumbline Advisers owned 0.13% of Arvinas worth $2,402,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. American International Group Inc. increased its stake in shares of Arvinas by 1.8% during the 1st quarter. American International Group Inc. now owns 24,857 shares of the company’s stock worth $1,026,000 after purchasing an additional 449 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Arvinas by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock worth $549,000 after purchasing an additional 486 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Arvinas by 9.2% during the 1st 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. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Arvinas during the 1st quarter worth approximately $44,000. Finally, Los Angeles Capital Management LLC increased its stake in shares of Arvinas by 7.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 29,882 shares of the company’s stock worth $1,234,000 after purchasing an additional 1,993 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Price Performance

ARVN opened at $24.97 on Thursday. Arvinas, Inc. has a one year low of $13.57 and a one year high of $53.08. The firm has a market capitalization of $1.71 billion, a P/E ratio of -4.29 and a beta of 1.97. The company has a fifty day moving average price of $26.46 and a 200-day moving average price of $31.32.

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

Analyst Ratings Changes

ARVN has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and set a $87.00 price target on shares of Arvinas in a research note on Thursday, August 1st. Oppenheimer reduced their price objective on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Barclays reduced their price objective on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.50.

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.