Magnetar Financial LLC Takes Position in Arvinas, Inc. (NASDAQ:ARVN)

Magnetar Financial LLC acquired a new stake in Arvinas, Inc. (NASDAQ:ARVN) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 19,747 shares of the company’s stock, valued at approximately $815,000.

Several other large investors also recently made changes to their positions in the stock. RTW Investments LP bought a new position in Arvinas during the 4th quarter worth $173,427,000. Vanguard Group Inc. increased its position in shares of Arvinas by 29.9% in the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after purchasing an additional 1,448,166 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Arvinas by 42.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,832,123 shares of the company’s stock worth $157,731,000 after purchasing an additional 1,143,452 shares during the period. Commodore Capital LP bought a new position in shares of Arvinas in the fourth quarter worth $41,160,000. Finally, Norges Bank bought a new position in shares of Arvinas in the fourth quarter worth $36,126,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company decreased their price target on Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Stifel Nicolaus reduced their price objective on Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Wedbush reissued an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research note on Wednesday, May 8th. Finally, HC Wainwright reissued a “buy” rating and set a $87.00 price target on shares of Arvinas in a research note on Friday, May 17th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.13.

Arvinas Price Performance

Shares of Arvinas stock traded up $0.01 during midday trading on Monday, reaching $29.66. The company had a trading volume of 11,898 shares, compared to its average volume of 769,061. The firm has a market cap of $2.03 billion, a PE ratio of -5.00 and a beta of 1.98. The stock has a fifty day moving average price of $28.52 and a 200 day moving average price of $36.19. Arvinas, Inc. has a fifty-two week low of $13.57 and a fifty-two week high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its 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 during the quarter, compared to the consensus estimate of $32.94 million. The company’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.54) earnings per share. As a group, sell-side analysts forecast that Arvinas, Inc. will post -4.08 EPS for the current year.

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.