Arvinas (NASDAQ:ARVN) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Arvinas (NASDAQ:ARVN) in a research report released on Friday morning,Benzinga reports.

ARVN has been the topic of a number of other research reports. Oppenheimer decreased their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Barclays reduced their price target on Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a report on Wednesday, December 11th. Stephens assumed coverage on Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price on the stock. Finally, Guggenheim restated a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.45.

Arvinas Stock Performance

Shares of Arvinas stock opened at $18.70 on Friday. The firm has a 50-day moving average of $19.75 and a 200-day moving average of $23.67. Arvinas has a 52-week low of $16.61 and a 52-week high of $53.08. The stock has a market cap of $1.28 billion, a PE ratio of -4.00 and a beta of 1.88.

Hedge Funds Weigh In On Arvinas

A number of institutional investors have recently added to or reduced their stakes in ARVN. Handelsbanken Fonder AB grew its stake in shares of Arvinas by 17.4% during the third quarter. Handelsbanken Fonder AB now owns 19,525 shares of the company’s stock worth $481,000 after buying an additional 2,900 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Arvinas by 37.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock valued at $164,000 after acquiring an additional 1,798 shares in the last quarter. nVerses Capital LLC bought a new stake in Arvinas during the 3rd quarter worth $39,000. Assenagon Asset Management S.A. acquired a new position in Arvinas in the 3rd quarter worth about $3,442,000. Finally, E. Ohman J or Asset Management AB raised its position in Arvinas by 20.1% in the third quarter. E. Ohman J or Asset Management AB now owns 29,830 shares of the company’s stock valued at $735,000 after purchasing an additional 5,000 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.