Allspring Global Investments Holdings LLC cut its stake in Arvinas, Inc. (NASDAQ:ARVN – Get Rating) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,771 shares of the company’s stock after selling 796 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arvinas were worth $1,502,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in ARVN. Raymond James & Associates raised its holdings in shares of Arvinas by 21.3% during the first quarter. Raymond James & Associates now owns 6,686 shares of the company’s stock worth $450,000 after purchasing an additional 1,172 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Arvinas by 55.4% during the first quarter. MetLife Investment Management LLC now owns 25,350 shares of the company’s stock worth $1,706,000 after purchasing an additional 9,039 shares during the period. Rhumbline Advisers raised its holdings in shares of Arvinas by 3.1% during the first quarter. Rhumbline Advisers now owns 49,324 shares of the company’s stock worth $3,320,000 after purchasing an additional 1,479 shares during the period. BlackRock Inc. raised its holdings in shares of Arvinas by 0.6% during the first quarter. BlackRock Inc. now owns 3,525,259 shares of the company’s stock worth $237,251,000 after purchasing an additional 19,519 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Arvinas by 743.7% during the first quarter. Great West Life Assurance Co. Can now owns 17,786 shares of the company’s stock worth $1,271,000 after purchasing an additional 15,678 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.
Arvinas Trading Down 0.4 %
Shares of NASDAQ ARVN opened at $33.53 on Friday. Arvinas, Inc. has a twelve month low of $27.00 and a twelve month high of $81.13. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -7.04 and a beta of 1.84. The firm has a 50-day moving average of $37.45 and a two-hundred day moving average of $43.92.
Analyst Ratings Changes
A number of brokerages have weighed in on ARVN. Wedbush dropped their target price on shares of Arvinas from $43.00 to $27.00 in a report on Tuesday, January 10th. Oppenheimer lowered their price target on shares of Arvinas from $102.00 to $95.00 in a research report on Tuesday, January 10th. The Goldman Sachs Group restated a “buy” rating and set a $81.00 price target on shares of Arvinas in a research report on Monday, November 28th. Wells Fargo & Company lowered shares of Arvinas from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $83.00 to $49.00 in a research report on Monday, January 2nd. Finally, Capital One Financial assumed coverage on shares of Arvinas in a research report on Tuesday, October 25th. They set an “overweight” rating for the company. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.00.
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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