Zacks Investment Management Has $2.21 Million Stock Holdings in Arvinas, Inc. (NASDAQ:ARVN)

Zacks Investment Management increased its stake in Arvinas, Inc. (NASDAQ:ARVN) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,827 shares of the company’s stock after acquiring an additional 8,029 shares during the quarter. Zacks Investment Management owned about 0.13% of Arvinas worth $2,212,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ARVN. Mirae Asset Global Investments Co. Ltd. raised 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 purchasing an additional 440 shares during the last quarter. Amalgamated Bank lifted its holdings 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 buying an additional 508 shares during the period. Edgestream Partners L.P. boosted its position in Arvinas by 16.3% during the second quarter. Edgestream Partners L.P. now owns 9,311 shares of the company’s stock valued at $248,000 after acquiring an additional 1,305 shares during the last quarter. Quest Partners LLC acquired a new stake in Arvinas during the 2nd quarter worth about $42,000. Finally, nVerses Capital LLC bought a new position in shares of Arvinas in the 3rd quarter worth about $39,000. 95.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BMO Capital Markets decreased their target price on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. 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 for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. HC Wainwright reissued a “buy” rating and set a $87.00 target price on shares of Arvinas in a research note on Thursday, October 31st. Finally, Oppenheimer decreased their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.00.

Arvinas Price Performance

Shares of NASDAQ ARVN opened at $25.08 on Tuesday. The company has a 50-day moving average price of $25.77 and a 200-day moving average price of $26.33. The stock has a market capitalization of $1.72 billion, a P/E ratio of -5.37 and a beta of 1.82. Arvinas, Inc. has a 1 year low of $21.17 and a 1 year high of $53.08.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. Arvinas’s revenue for the quarter was up 196.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.18) EPS. As a group, equities research analysts anticipate that Arvinas, Inc. will post -3.22 earnings per share for the current fiscal year.

Arvinas 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.