Barclays PLC Boosts Holdings in Arvinas, Inc. (NASDAQ:ARVN)

Barclays PLC grew its position in shares of Arvinas, Inc. (NASDAQ:ARVN) by 198.9% in the third quarter, Holdings Channel reports. The firm owned 121,699 shares of the company’s stock after purchasing an additional 80,984 shares during the period. Barclays PLC’s holdings in Arvinas were worth $2,998,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Arvinas in the third quarter valued at approximately $39,000. Quest Partners LLC bought a new position in shares of Arvinas in the 2nd quarter worth $42,000. Amalgamated Bank raised its position in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after buying an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 grew its position in Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after acquiring an additional 2,601 shares in the last quarter. Institutional investors own 95.19% of the company’s stock.

Arvinas Stock Performance

NASDAQ ARVN opened at $18.73 on Wednesday. The stock has a market cap of $1.29 billion, a P/E ratio of -4.01 and a beta of 1.82. Arvinas, Inc. has a fifty-two week low of $17.37 and a fifty-two week high of $53.08. The stock has a 50 day simple moving average of $24.54 and a two-hundred day simple moving average of $25.43.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS 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 analysts’ expectations of $60.56 million. The business’s revenue was up 196.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.18) EPS. Sell-side analysts predict that Arvinas, Inc. will post -3.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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