Norges Bank Makes New Investment in Arvinas, Inc. (NASDAQ:ARVN)

Norges Bank bought a new position in Arvinas, Inc. (NASDAQ:ARVNFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 877,708 shares of the company’s stock, valued at approximately $36,126,000. Norges Bank owned approximately 1.59% of Arvinas as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in shares of Arvinas by 27.2% during the 3rd quarter. Barclays PLC now owns 33,797 shares of the company’s stock valued at $663,000 after purchasing an additional 7,228 shares in the last quarter. Swiss National Bank raised its holdings in shares of Arvinas by 1.2% during the 3rd quarter. Swiss National Bank now owns 99,700 shares of the company’s stock valued at $1,958,000 after purchasing an additional 1,200 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Arvinas by 18.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 429,990 shares of the company’s stock valued at $8,445,000 after purchasing an additional 66,430 shares in the last quarter. FMR LLC raised its holdings in shares of Arvinas by 10.6% during the 3rd quarter. FMR LLC now owns 4,868,295 shares of the company’s stock valued at $95,613,000 after purchasing an additional 466,667 shares in the last quarter. Finally, Federated Hermes Inc. bought a new position in shares of Arvinas during the 3rd quarter valued at $2,048,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Price Performance

NASDAQ ARVN opened at $32.24 on Friday. The company’s fifty day moving average is $35.37 and its two-hundred day moving average is $37.42. Arvinas, Inc. has a 52-week low of $13.57 and a 52-week high of $53.08. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -5.44 and a beta of 1.95.

Arvinas (NASDAQ:ARVNGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.45. Arvinas had a negative net margin of 185.09% and a negative return on equity of 64.79%. The business had revenue of $25.30 million for the quarter, compared to analyst estimates of $32.94 million. During the same period in the previous year, the business earned ($1.54) EPS. The firm’s revenue was down 22.2% on a year-over-year basis. As a group, sell-side analysts expect that Arvinas, Inc. will post -4.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Citigroup downgraded shares of Arvinas from a “buy” rating to a “neutral” rating and raised their price target for the company from $36.00 to $55.00 in a report on Wednesday, February 14th. Leerink Partnrs reiterated an “outperform” rating on shares of Arvinas in a research note on Thursday, February 22nd. Wells Fargo & Company lowered their target price on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Arvinas in a research note on Monday, March 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research note on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Arvinas has a consensus rating of “Moderate Buy” and a consensus price target of $61.13.

Read Our Latest Research Report on Arvinas

About Arvinas

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Arvinas (NASDAQ:ARVN)

Receive News & Ratings for Arvinas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arvinas and related companies with MarketBeat.com's FREE daily email newsletter.