Arvinas, Inc. (NASDAQ:ARVN) Shares Bought by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC grew its position in shares of Arvinas, Inc. (NASDAQ:ARVN) by 42.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,776,555 shares of the company’s stock after buying an additional 532,105 shares during the quarter. ArrowMark Colorado Holdings LLC owned 2.59% of Arvinas worth $34,057,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. purchased a new position in Arvinas during the fourth quarter worth about $42,332,000. Norges Bank acquired a new position in Arvinas during the 4th quarter worth approximately $23,845,000. Boxer Capital Management LLC purchased a new position in shares of Arvinas during the 4th quarter worth approximately $20,294,000. Affinity Asset Advisors LLC lifted its holdings in shares of Arvinas by 180.0% in the 4th quarter. Affinity Asset Advisors LLC now owns 630,000 shares of the company’s stock valued at $12,077,000 after buying an additional 405,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Trading Up 6.8 %

Shares of NASDAQ:ARVN opened at $7.72 on Friday. The firm has a market cap of $530.92 million, a price-to-earnings ratio of -2.79 and a beta of 2.30. The stock’s 50-day moving average price is $9.66 and its two-hundred day moving average price is $17.51. Arvinas, Inc. has a 12-month low of $5.94 and a 12-month high of $37.38.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same quarter in the prior year, the business posted ($0.97) earnings per share. The company’s revenue was up 646.2% on a year-over-year basis. As a group, research analysts forecast that Arvinas, Inc. will post -3.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ian Taylor sold 9,020 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the sale, the insider now owns 159,121 shares in the company, valued at approximately $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the sale, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,230 shares of company stock worth $769,402 over the last ninety days. 5.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $10.00 price objective (down previously from $52.00) on shares of Arvinas in a research report on Friday. HC Wainwright cut their price target on shares of Arvinas from $81.00 to $24.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley decreased their price objective on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Bank of America dropped their target price on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Finally, Guggenheim decreased their price target on Arvinas from $32.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Arvinas has an average rating of “Moderate Buy” and an average target price of $25.82.

Arvinas 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.