Arvinas, Inc. (NASDAQ:ARVN) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 71.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,862 shares of the company’s stock after purchasing an additional 25,778 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.09% of Arvinas worth $2,554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARVN. RTW Investments LP acquired a new position in shares of Arvinas during the 4th quarter worth about $173,427,000. Price T Rowe Associates Inc. MD boosted its position in shares of Arvinas by 42.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,832,123 shares of the company’s stock worth $157,731,000 after acquiring an additional 1,143,452 shares in the last quarter. Commodore Capital LP acquired a new position in shares of Arvinas during the 4th quarter worth about $41,160,000. Norges Bank acquired a new position in shares of Arvinas during the 4th quarter worth about $36,126,000. Finally, Boxer Capital LLC acquired a new position in shares of Arvinas during the 4th quarter worth about $25,051,000. 95.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on ARVN. Truist Financial reaffirmed a “buy” rating and set a $65.00 price objective on shares of Arvinas in a research report on Monday, March 25th. Wedbush reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research report on Wednesday, May 8th. HC Wainwright reissued a “buy” rating and issued a $87.00 target price on shares of Arvinas in a report on Friday, May 17th. Wells Fargo & Company reduced their target price on Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Finally, Stifel Nicolaus reduced their target price on Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.13.

Arvinas Stock Up 3.0 %

Shares of ARVN traded up $0.77 on Friday, reaching $26.62. The stock had a trading volume of 4,058,951 shares, compared to its average volume of 901,188. The firm has a market capitalization of $1.82 billion, a PE ratio of -4.49 and a beta of 1.98. The firm has a 50-day moving average of $30.35 and a 200 day moving average of $37.76. Arvinas, Inc. has a twelve month low of $13.57 and a twelve month high of $53.08.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.45. The business had revenue of $25.30 million for the quarter, compared to analysts’ expectations of $32.94 million. Arvinas had a negative return on equity of 64.79% and a negative net margin of 185.09%. The company’s revenue was down 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.54) EPS. On average, sell-side analysts anticipate that Arvinas, Inc. will post -4.08 earnings per share for the current fiscal year.

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.