Allspring Global Investments Holdings LLC Has $182,000 Stake in Arvinas, Inc. (NASDAQ:ARVN)

Allspring Global Investments Holdings LLC reduced its stake in Arvinas, Inc. (NASDAQ:ARVN) by 48.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,371 shares of the company’s stock after selling 6,927 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arvinas were worth $182,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after buying an additional 1,448,166 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Arvinas by 14.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after purchasing an additional 536,295 shares during the last quarter. Candriam S.C.A. raised its position in Arvinas by 32.0% in the second quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after purchasing an additional 147,904 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Arvinas by 57.4% during the second quarter. Panagora Asset Management Inc. now owns 256,658 shares of the company’s stock valued at $6,832,000 after purchasing an additional 93,568 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in shares of Arvinas during the first quarter worth about $2,795,000. 95.19% of the stock is owned by institutional investors.

Arvinas Stock Up 1.8 %

Shares of NASDAQ ARVN opened at $26.90 on Monday. The firm has a market cap of $1.85 billion, a PE ratio of -5.76 and a beta of 1.96. The company’s fifty day simple moving average is $25.64 and its 200 day simple moving average is $27.75. Arvinas, Inc. has a 12-month low of $14.02 and a 12-month high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. During the same quarter in the prior year, the business earned ($1.18) earnings per share. The business’s quarterly revenue was up 196.0% on a year-over-year basis. On average, equities analysts predict that Arvinas, Inc. will post -3.51 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on ARVN. Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. HC Wainwright reissued a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research note on Thursday. Oppenheimer lowered their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday. Barclays reduced their price target on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.92.

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.