Lazard Asset Management LLC Increases Stake in Arvinas, Inc. (NASDAQ:ARVN)

Lazard Asset Management LLC increased its position in Arvinas, Inc. (NASDAQ:ARVNGet Rating) by 202.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,604 shares of the company’s stock after purchasing an additional 1,743 shares during the period. Lazard Asset Management LLC’s holdings in Arvinas were worth $109,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Arvinas by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,023,581 shares of the company’s stock worth $270,786,000 after acquiring an additional 31,372 shares during the last quarter. BlackRock Inc. increased its holdings in Arvinas by 0.6% in the 1st quarter. BlackRock Inc. now owns 3,525,259 shares of the company’s stock worth $237,251,000 after acquiring an additional 19,519 shares during the last quarter. State Street Corp increased its holdings in Arvinas by 7.1% in the 1st quarter. State Street Corp now owns 1,021,370 shares of the company’s stock worth $68,738,000 after acquiring an additional 67,431 shares during the last quarter. Wellington Management Group LLP increased its holdings in Arvinas by 22.6% in the 1st quarter. Wellington Management Group LLP now owns 776,569 shares of the company’s stock worth $52,263,000 after acquiring an additional 143,274 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Arvinas by 22.6% during the 1st quarter. American Century Companies Inc. now owns 617,606 shares of the company’s stock valued at $41,565,000 after buying an additional 114,020 shares in the last quarter. Hedge funds and other institutional investors own 91.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ARVN has been the subject of a number of recent analyst reports. Citigroup reduced their target price on Arvinas from $103.00 to $88.00 in a report on Thursday, August 18th. Capital One Financial initiated coverage on Arvinas in a report on Tuesday, October 25th. They set an “overweight” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Wednesday, September 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 target price on shares of Arvinas in a report on Tuesday, October 18th. Finally, SVB Leerink reduced their target price on Arvinas from $89.00 to $74.00 and set an “outperform” rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.80.

Arvinas Price Performance

NASDAQ:ARVN opened at $40.70 on Wednesday. The business has a 50 day moving average of $45.72 and a 200 day moving average of $45.88. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -8.55 and a beta of 1.89. Arvinas, Inc. has a 1-year low of $34.90 and a 1-year high of $83.40.

Arvinas Company Profile

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Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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Institutional Ownership by Quarter for Arvinas (NASDAQ:ARVN)

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