Arvinas, Inc. $ARVN Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB lifted its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 28.7% during the 3rd quarter, Holdings Channel reports. The firm owned 557,742 shares of the company’s stock after buying an additional 124,254 shares during the period. Nordea Investment Management AB’s holdings in Arvinas were worth $4,730,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted 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 buying an additional 4,835 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Arvinas by 109.4% in the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock valued at $49,000 after acquiring an additional 3,500 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Arvinas in the second quarter valued at $74,000. Virtus Investment Advisers LLC grew its stake in Arvinas by 49.3% during the 2nd quarter. Virtus Investment Advisers LLC now owns 12,422 shares of the company’s stock worth $91,000 after purchasing an additional 4,104 shares in the last quarter. Finally, 111 Capital acquired a new position in Arvinas during the 2nd quarter worth $95,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Analyst Ratings Changes

ARVN has been the topic of a number of analyst reports. Stephens increased their price target on Arvinas from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Citigroup upgraded shares of Arvinas from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.00 to $15.00 in a research note on Tuesday, January 6th. Wells Fargo & Company reduced their target price 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. Piper Sandler reiterated an “overweight” rating and set a $16.00 price target on shares of Arvinas in a report on Tuesday, October 7th. Finally, BTIG Research increased their price objective on shares of Arvinas from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Twelve 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’s stock. According to data from MarketBeat.com, Arvinas currently has an average rating of “Hold” and an average target price of $16.79.

Arvinas Trading Up 0.6%

Shares of NASDAQ:ARVN opened at $12.20 on Friday. The firm has a 50 day simple moving average of $11.97 and a 200-day simple moving average of $9.51. Arvinas, Inc. has a twelve month low of $5.90 and a twelve month high of $20.38. The company has a market capitalization of $783.53 million, a PE ratio of -15.06 and a beta of 1.89.

Arvinas (NASDAQ:ARVN) last announced 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 net margin of 18.73% and a negative return on equity of 9.77%. The firm had revenue of $41.90 million for the quarter, compared to analyst estimates of $29.36 million. During the same period last year, the business earned ($0.68) EPS. Arvinas’s revenue for the quarter was down 59.1% compared to the same quarter last year. As a group, equities research analysts predict that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

About Arvinas

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.