Nordea Investment Management AB Purchases 199,382 Shares of Arvinas, Inc. $ARVN

Nordea Investment Management AB grew its position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 85.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 433,488 shares of the company's stock after purchasing an additional 199,382 shares during the quarter. Nordea Investment Management AB owned approximately 0.59% of Arvinas worth $3,364,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Arvinas by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 8,362,200 shares of the company's stock valued at $58,703,000 after purchasing an additional 1,299,639 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Arvinas in the 1st quarter valued at $12,636,000. Millennium Management LLC boosted its stake in shares of Arvinas by 208.4% in the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company's stock valued at $9,198,000 after purchasing an additional 885,483 shares during the last quarter. Philosophy Capital Management LLC bought a new stake in shares of Arvinas in the 1st quarter valued at $6,992,000. Finally, Federated Hermes Inc. boosted its stake in shares of Arvinas by 1,965.0% in the 1st quarter. Federated Hermes Inc. now owns 980,674 shares of the company's stock valued at $6,884,000 after purchasing an additional 933,183 shares during the last quarter. 95.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ARVN shares. Wells Fargo & Company cut their target price on shares of Arvinas from $19.00 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Bank of America lowered shares of Arvinas from a "buy" rating to a "neutral" rating and set a $10.00 target price on the stock. in a research note on Wednesday, September 24th. The Goldman Sachs Group reissued a "sell" rating and set a $6.00 target price (down from $8.00) on shares of Arvinas in a research note on Wednesday, October 15th. BTIG Research cut their target price on shares of Arvinas from $16.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, September 18th. Finally, Piper Sandler reissued an "overweight" rating and set a $16.00 target price on shares of Arvinas in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $16.18.

Arvinas Trading Down 0.6%

Arvinas stock opened at $9.66 on Wednesday. Arvinas, Inc. has a 1-year low of $5.90 and a 1-year high of $29.61. The firm has a market capitalization of $709.24 million, a price-to-earnings ratio of -9.56 and a beta of 2.39. The firm's fifty day moving average price is $8.22 and its two-hundred day moving average price is $7.70.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) earnings per share for the quarter, beating analysts' consensus estimates of ($0.87) by $0.03. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. The firm had revenue of $22.40 million for the quarter, compared to analyst estimates of $34.42 million. During the same period last year, the firm earned ($0.49) earnings per share. The business's quarterly revenue was down 70.7% compared to the same quarter last year. On average, research analysts forecast that Arvinas, Inc. will post -3.81 EPS for the current year.

Arvinas announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 17.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Arvinas

In other Arvinas news, Director Briggs Morrison acquired 30,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were purchased at an average cost of $7.57 per share, with a total value of $227,100.00. Following the completion of the purchase, the director owned 76,021 shares of the company's stock, valued at approximately $575,478.97. This represents a 65.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.73% of the company's stock.

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.

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