Amalgamated Bank Raises Holdings in Arvinas, Inc. (NASDAQ:ARVN)

Amalgamated Bank raised its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 29.6% in the second quarter, Holdings Channel.com reports. The firm owned 2,223 shares of the company’s stock after purchasing an additional 508 shares during the period. Amalgamated Bank’s holdings in Arvinas were worth $59,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. RTW Investments LP purchased a new stake in shares of Arvinas during the 4th quarter valued at about $173,427,000. Vanguard Group Inc. increased its holdings in shares of Arvinas by 29.9% in the 1st 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 increased its holdings in shares of Arvinas by 42.5% in 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 buying an additional 1,143,452 shares during the last quarter. Commodore Capital LP bought a new position in Arvinas during the fourth quarter valued at $41,160,000. Finally, Boxer Capital LLC bought a new position in shares of Arvinas during the fourth quarter valued at approximately $25,051,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Trading Up 1.0 %

ARVN opened at $24.88 on Wednesday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -4.20 and a beta of 1.97. The company has a fifty day simple moving average of $25.63 and a 200 day simple moving average of $29.96. Arvinas, Inc. has a twelve month low of $13.57 and a twelve month high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.59. The firm had revenue of $76.50 million during the quarter, compared to the consensus estimate of $33.27 million. During the same period in the prior year, the firm earned ($1.25) earnings per share. The firm’s quarterly revenue was up 40.4% compared to the same quarter last year. On average, analysts forecast that Arvinas, Inc. will post -3.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ARVN has been the subject of several recent research reports. Oppenheimer reduced their target price on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. HC Wainwright reiterated a “buy” rating and set a $87.00 price target on shares of Arvinas in a report on Thursday, August 1st. Barclays lowered their price target on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

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.