Allspring Global Investments Holdings LLC Buys 3,274 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 39.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,510 shares of the company’s stock after buying an additional 3,274 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arvinas were worth $474,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. FMR LLC grew its position in shares of Arvinas by 10.6% during the 3rd quarter. FMR LLC now owns 4,868,295 shares of the company’s stock worth $95,613,000 after buying an additional 466,667 shares during the period. Vanguard Group Inc. grew its position in shares of Arvinas by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,608,223 shares of the company’s stock worth $90,505,000 after buying an additional 90,426 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Arvinas by 18.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 429,990 shares of the company’s stock worth $8,445,000 after buying an additional 66,430 shares during the period. Algert Global LLC grew its position in shares of Arvinas by 45.5% during the 3rd quarter. Algert Global LLC now owns 173,418 shares of the company’s stock worth $3,406,000 after buying an additional 54,229 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of Arvinas during the 3rd quarter worth approximately $2,048,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ARVN shares. Wedbush lifted their price target on shares of Arvinas from $33.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Barclays upped their target price on shares of Arvinas from $26.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Arvinas in a research note on Thursday, February 22nd. BMO Capital Markets upped their target price on shares of Arvinas from $89.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, Citigroup downgraded shares of Arvinas from a “buy” rating to a “neutral” rating and upped their target price for the company from $36.00 to $55.00 in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and an average price target of $59.73.

Arvinas Stock Down 2.9 %

Shares of ARVN stock opened at $31.60 on Friday. The firm has a fifty day moving average of $42.34 and a 200-day moving average of $34.48. Arvinas, Inc. has a 12-month low of $13.57 and a 12-month high of $53.08. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -4.86 and a beta of 1.94.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($1.38). Arvinas had a negative return on equity of 70.24% and a negative net margin of 185.09%. The company had revenue of ($43.10) million for the quarter, compared to the consensus estimate of $38.91 million. During the same period in the prior year, the company earned ($1.56) EPS. On average, equities analysts expect that Arvinas, Inc. will post -5.02 EPS for the current year.

Insider Buying and Selling

In related news, CFO Sean A. Cassidy sold 1,702 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the transaction, the chief financial officer now owns 181,916 shares in the company, valued at $8,559,147.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Sean A. Cassidy sold 1,702 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the transaction, the chief financial officer now owns 181,916 shares in the company, valued at $8,559,147.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ronald Peck sold 1,699 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $79,937.95. Following the transaction, the insider now owns 67,516 shares of the company’s stock, valued at approximately $3,176,627.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,597 shares of company stock worth $404,489. 5.23% of the stock is owned by insiders.

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.