Federated Hermes Inc. Acquires 4,389 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Federated Hermes Inc. lifted its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 2.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 176,352 shares of the company’s stock after acquiring an additional 4,389 shares during the period. Federated Hermes Inc.’s holdings in Arvinas were worth $4,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Great Point Partners LLC bought a new position in Arvinas in the fourth quarter valued at approximately $9,635,000. Boxer Capital LLC bought a new position in shares of Arvinas in the 4th quarter worth $25,051,000. Charles Schwab Investment Management Inc. boosted its position in shares of Arvinas by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,474 shares of the company’s stock worth $19,324,000 after purchasing an additional 39,484 shares during the last quarter. Rhenman & Partners Asset Management AB grew its stake in shares of Arvinas by 58.0% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 134,270 shares of the company’s stock worth $5,527,000 after purchasing an additional 49,270 shares during the period. Finally, Nomura Asset Management Co. Ltd. bought a new stake in Arvinas in the fourth quarter valued at about $2,506,000. 95.19% of the stock is owned by institutional investors.

Arvinas Stock Down 1.4 %

ARVN stock opened at $24.97 on Thursday. Arvinas, Inc. has a 52 week low of $13.57 and a 52 week high of $53.08. The business has a 50-day simple moving average of $26.46 and a 200 day simple moving average of $31.32. The company has a market cap of $1.71 billion, a PE ratio of -4.21 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, July 30th. The company reported ($0.49) EPS 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 analyst estimates of $33.27 million. During the same quarter in the previous year, the firm posted ($1.25) earnings per share. Arvinas’s quarterly revenue was up 40.4% compared to the same quarter last year. On average, analysts anticipate that Arvinas, Inc. will post -3.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Arvinas 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.