Tower Research Capital LLC TRC Grows Stock Holdings in Arvinas, Inc. (NASDAQ:ARVN)

Tower Research Capital LLC TRC raised its position in shares of Arvinas, Inc. (NASDAQ:ARVN) by 57.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,306 shares of the company’s stock after buying an additional 1,936 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Arvinas were worth $145,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Arvinas in the 4th quarter valued at approximately $24,007,000. Avidity Partners Management LP raised its position in shares of Arvinas by 14.0% in the 4th quarter. Avidity Partners Management LP now owns 4,950,000 shares of the company’s stock valued at $169,340,000 after purchasing an additional 606,500 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Arvinas by 816.5% in the 4th quarter. Nordea Investment Management AB now owns 273,955 shares of the company’s stock valued at $9,523,000 after purchasing an additional 244,065 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of Arvinas by 25.3% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,195,659 shares of the company’s stock valued at $40,903,000 after purchasing an additional 241,783 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Arvinas by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,368,130 shares of the company’s stock valued at $81,014,000 after purchasing an additional 188,362 shares during the last quarter. 86.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arvinas news, insider Ronald Peck sold 1,324 shares of Arvinas stock in a transaction on Friday, August 11th. The shares were sold at an average price of $24.39, for a total transaction of $32,292.36. Following the sale, the insider now owns 29,965 shares of the company’s stock, valued at approximately $730,846.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.55% of the stock is currently owned by corporate insiders.

Arvinas Stock Performance

Arvinas stock opened at $27.24 on Thursday. The company’s fifty day moving average price is $24.77 and its 200 day moving average price is $26.51. Arvinas, Inc. has a 1 year low of $21.21 and a 1 year high of $57.96. The stock has a market capitalization of $1.46 billion, a P/E ratio of -4.87 and a beta of 1.74.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($1.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.65) by $0.40. Arvinas had a negative net margin of 191.63% and a negative return on equity of 55.09%. The firm had revenue of $54.50 million for the quarter, compared to analysts’ expectations of $30.94 million. During the same quarter last year, the company earned ($1.32) EPS. The firm’s revenue for the quarter was up 74.1% compared to the same quarter last year. Sell-side analysts predict that Arvinas, Inc. will post -6.14 EPS for the current year.

Wall Street Analyst Weigh In

ARVN has been the subject of several research analyst reports. Barclays decreased their price objective on shares of Arvinas from $70.00 to $39.00 and set an “overweight” rating for the company in a research report on Tuesday, August 8th. Morgan Stanley reduced their price target on shares of Arvinas from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Monday, August 14th. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Arvinas in a research report on Wednesday, August 9th. Citigroup reduced their price target on shares of Arvinas from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, August 21st. Finally, Truist Financial reissued a “buy” rating and set a $65.00 price target on shares of Arvinas in a research report on Wednesday, August 16th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and an average target price of $65.50.

About Arvinas

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.