Allspring Global Investments Holdings LLC Has $327,000 Stock Position in Arvinas, Inc. $ARVN

Allspring Global Investments Holdings LLC lifted its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 277.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,921 shares of the company’s stock after purchasing an additional 31,544 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Arvinas worth $327,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. CWM LLC increased its stake in shares of Arvinas by 153.7% during the 2nd quarter. CWM LLC now owns 19,322 shares of the company’s stock worth $142,000 after purchasing an additional 11,707 shares during the last quarter. 111 Capital acquired a new position in shares of Arvinas during the 2nd quarter worth $95,000. Palumbo Wealth Management LLC acquired a new position in shares of Arvinas during the 2nd quarter worth $492,000. Public Employees Retirement System of Ohio acquired a new position in shares of Arvinas during the 2nd quarter worth $74,000. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Arvinas during the 2nd quarter worth $413,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ARVN. Barclays began coverage on shares of Arvinas in a research note on Wednesday, September 17th. They set an “overweight” rating and a $16.00 price target on the stock. Guggenheim decreased their price objective on shares of Arvinas from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 7th. HC Wainwright decreased their price objective on shares of Arvinas from $24.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Wedbush reaffirmed a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Arvinas in a report on Thursday, September 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective on shares of Arvinas in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.18.

Insider Activity at Arvinas

In other Arvinas news, Director Briggs Morrison acquired 30,000 shares of Arvinas stock in a transaction dated Monday, September 22nd. The stock was bought at an average cost of $7.57 per share, with a total value of $227,100.00. Following the acquisition, the director owned 76,021 shares of the company’s stock, valued at approximately $575,478.97. The trade was a 65.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.73% of the company’s stock.

Arvinas Stock Performance

NASDAQ:ARVN opened at $9.21 on Friday. The company has a 50-day moving average of $8.35 and a 200-day moving average of $7.76. The company has a market capitalization of $676.20 million, a price-to-earnings ratio of -9.12 and a beta of 2.39. Arvinas, Inc. has a 52 week low of $5.90 and a 52 week high of $29.61.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.03. The company had revenue of $22.40 million during the quarter, compared to the consensus estimate of $34.42 million. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. The firm’s revenue for the quarter was down 70.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.49) EPS. Sell-side analysts forecast that Arvinas, Inc. will post -3.81 EPS for the current year.

Arvinas declared that its board has approved a share repurchase program on Wednesday, September 17th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 17.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.