Arvinas, Inc. (NASDAQ:ARVN) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in Arvinas, Inc. (NASDAQ:ARVN) by 17.4% in the third quarter, HoldingsChannel.com reports. The fund owned 19,525 shares of the company’s stock after buying an additional 2,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Arvinas were worth $481,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Squarepoint Ops LLC boosted its position in Arvinas by 45.2% during the 2nd quarter. Squarepoint Ops LLC now owns 118,899 shares of the company’s stock valued at $3,165,000 after purchasing an additional 37,028 shares during the period. Marshall Wace LLP acquired a new position in shares of Arvinas during the second quarter valued at $538,000. Magnetar Financial LLC grew its position in shares of Arvinas by 112.7% during the second quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock worth $1,118,000 after acquiring an additional 22,245 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Arvinas by 47.6% in the 2nd quarter. Profund Advisors LLC now owns 15,954 shares of the company’s stock worth $425,000 after acquiring an additional 5,145 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Arvinas by 8.5% in the 2nd quarter. Sei Investments Co. now owns 26,594 shares of the company’s stock worth $708,000 after acquiring an additional 2,093 shares during the period. 95.19% of the stock is owned by institutional investors.

Arvinas Stock Up 4.5 %

NASDAQ:ARVN opened at $26.13 on Monday. The stock has a fifty day simple moving average of $25.09 and a 200 day simple moving average of $28.86. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -4.41 and a beta of 1.97. Arvinas, Inc. has a 1-year low of $13.57 and a 1-year high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.59. The firm had revenue of $76.50 million during the quarter, compared to analyst estimates of $33.27 million. During the same quarter in the previous year, the business earned ($1.25) earnings per share. The business’s quarterly revenue was up 40.4% compared to the same quarter last year. Equities analysts predict that Arvinas, Inc. will post -3.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Oppenheimer decreased their target price on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. HC Wainwright restated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a research note on Tuesday, July 30th. Finally, Barclays lowered their price objective on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.