Nordea Investment Management AB Grows Position in Arvinas, Inc. $ARVN

Nordea Investment Management AB raised its position in Arvinas, Inc. (NASDAQ:ARVN) by 28.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 557,742 shares of the company’s stock after purchasing an additional 124,254 shares during the quarter. Nordea Investment Management AB owned 0.76% of Arvinas worth $4,730,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Arvinas during the third quarter valued at approximately $128,000. Caxton Associates LLP purchased a new position in Arvinas during the 2nd quarter valued at $2,194,000. Tower Research Capital LLC TRC grew its position in Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after acquiring an additional 4,835 shares during the last quarter. Monimus Capital Management LP purchased a new stake in Arvinas in the second quarter worth $1,134,000. Finally, Wasatch Advisors LP purchased a new stake in Arvinas in the second quarter worth $3,330,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ARVN shares. Wells Fargo & Company cut their price target on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arvinas in a research report on Monday, December 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price on shares of Arvinas in a research report on Tuesday, October 7th. Wedbush reaffirmed a “neutral” rating and set a $9.00 price target on shares of Arvinas in a research note on Thursday, November 6th. Finally, Bank of America cut Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Wednesday, September 24th. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Arvinas has a consensus rating of “Hold” and an average price target of $16.79.

Arvinas Stock Up 0.6%

Arvinas stock opened at $12.20 on Friday. The firm has a market cap of $783.53 million, a P/E ratio of -15.06 and a beta of 1.89. The business has a fifty day moving average of $11.97 and a two-hundred day moving average of $9.51. Arvinas, Inc. has a twelve month low of $5.90 and a twelve month high of $20.38.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.27. Arvinas had a negative return on equity of 9.77% and a negative net margin of 18.73%.The firm had revenue of $41.90 million during the quarter, compared to analyst estimates of $29.36 million. During the same period in the previous year, the company posted ($0.68) EPS. The business’s revenue for the quarter was down 59.1% compared to the same quarter last year. Equities analysts expect that Arvinas, Inc. will post -3.81 earnings per share for the current year.

Arvinas Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.