ProShare Advisors LLC Has $292,000 Stock Holdings in Arvinas, Inc. (NASDAQ:ARVN)

ProShare Advisors LLC lowered its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 20.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,980 shares of the company’s stock after selling 2,852 shares during the period. ProShare Advisors LLC’s holdings in Arvinas were worth $292,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Profund Advisors LLC grew its position in shares of Arvinas by 47.6% during the 2nd quarter. Profund Advisors LLC now owns 15,954 shares of the company’s stock worth $425,000 after buying an additional 5,145 shares during the period. Sei Investments Co. grew its holdings in Arvinas by 8.5% in the second quarter. Sei Investments Co. now owns 26,594 shares of the company’s stock worth $708,000 after purchasing an additional 2,093 shares during the period. Seven Eight Capital LP increased its stake in Arvinas by 576.0% in the second quarter. Seven Eight Capital LP now owns 39,239 shares of the company’s stock valued at $1,045,000 after purchasing an additional 33,434 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Arvinas by 71.3% during the second quarter. Hsbc Holdings PLC now owns 13,238 shares of the company’s stock valued at $343,000 after purchasing an additional 5,511 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after purchasing an additional 508 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors.

Arvinas Stock Performance

Shares of ARVN stock opened at $24.48 on Friday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -4.13 and a beta of 1.97. Arvinas, Inc. has a 52 week low of $13.57 and a 52 week high of $53.08. The firm’s 50-day simple moving average is $25.44 and its two-hundred day simple moving average is $29.78.

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

Analyst Ratings Changes

A number of research firms recently weighed in on ARVN. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price target on shares of Arvinas in a research note on Thursday, August 1st. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research note on Tuesday, July 30th. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Barclays decreased 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. Finally, 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 research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company 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.