Magnetar Financial LLC Makes New Investment in Arvinas, Inc. (NASDAQ:ARVN)

Magnetar Financial LLC bought a new position in Arvinas, Inc. (NASDAQ:ARVN) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,747 shares of the company’s stock, valued at approximately $815,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Arvinas by 29.9% in the 1st quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after acquiring an additional 1,448,166 shares during the last quarter. RTW Investments LP bought a new position in shares of Arvinas during the 4th quarter valued at about $173,427,000. Price T Rowe Associates Inc. MD increased its position in shares of Arvinas by 42.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,832,123 shares of the company’s stock valued at $157,731,000 after purchasing an additional 1,143,452 shares during the last quarter. Avidity Partners Management LP increased its position in shares of Arvinas by 14.2% during the 4th quarter. Avidity Partners Management LP now owns 2,985,117 shares of the company’s stock valued at $122,867,000 after purchasing an additional 370,157 shares during the last quarter. Finally, Bellevue Group AG increased its position in shares of Arvinas by 18.0% during the 4th quarter. Bellevue Group AG now owns 2,507,731 shares of the company’s stock valued at $103,218,000 after purchasing an additional 382,531 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors.

Arvinas Price Performance

ARVN stock traded up $0.01 on Monday, reaching $29.66. 11,898 shares of the company traded hands, compared to its average volume of 769,061. Arvinas, Inc. has a one year low of $13.57 and a one year high of $53.08. The company has a market cap of $2.03 billion, a P/E ratio of -5.00 and a beta of 1.98. The firm has a fifty day simple moving average of $28.52 and a 200-day simple moving average of $36.19.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.45. The company had revenue of $25.30 million for the quarter, compared to the consensus estimate of $32.94 million. During the same period last year, the business earned ($1.54) EPS. The firm’s quarterly revenue was down 22.2% on a year-over-year basis. On average, sell-side analysts forecast that Arvinas, Inc. will post -4.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a report on Wednesday, May 8th. HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a report on Friday, May 17th. Stifel Nicolaus dropped their target price on Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Wells Fargo & Company dropped their target price on Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Arvinas currently has an average rating of “Moderate Buy” and an average price target of $61.13.

Arvinas Company Profile

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.