Baker BROS. Advisors LP Takes Position in Arvinas, Inc. (NASDAQ:ARVN)

Baker BROS. Advisors LP acquired a new position in Arvinas, Inc. (NASDAQ:ARVN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 405,576 shares of the company’s stock, valued at approximately $9,989,000. Baker BROS. Advisors LP owned 0.59% of Arvinas as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in shares of Arvinas by 55.1% in the 1st quarter. Janus Henderson Group PLC now owns 32,429 shares of the company’s stock worth $1,337,000 after acquiring an additional 11,520 shares during the period. California State Teachers Retirement System boosted its stake in Arvinas by 17.5% during the 1st quarter. California State Teachers Retirement System now owns 57,059 shares of the company’s stock valued at $2,355,000 after purchasing an additional 8,497 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Arvinas during the 2nd quarter valued at $185,000. SG Americas Securities LLC raised its stake in shares of Arvinas by 137.2% in the 2nd quarter. SG Americas Securities LLC now owns 86,096 shares of the company’s stock worth $2,292,000 after buying an additional 49,799 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Arvinas by 6.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 65,907 shares of the company’s stock valued at $1,754,000 after buying an additional 4,045 shares during the period. Institutional investors own 95.19% of the company’s stock.

Arvinas Stock Up 2.8 %

ARVN opened at $26.72 on Monday. The firm has a market capitalization of $1.84 billion, a P/E ratio of -5.72 and a beta of 1.96. The stock has a fifty day moving average of $25.68 and a 200-day moving average of $26.74. Arvinas, Inc. has a 12-month low of $21.17 and a 12-month high of $53.08.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. During the same period in the previous year, the firm posted ($1.18) earnings per share. The firm’s quarterly revenue was up 196.0% on a year-over-year basis. On average, analysts expect that Arvinas, Inc. will post -3.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ARVN shares. Oppenheimer dropped their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a report on Thursday, October 31st. BMO Capital Markets decreased their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Finally, Stephens assumed coverage on Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective for the company. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Arvinas presently has an average rating of “Moderate Buy” and an average price target of $61.08.

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.