Fmr LLC Purchases 204,317 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Fmr LLC lifted its position in Arvinas, Inc. (NASDAQ:ARVN) by 7.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,883,604 shares of the company’s stock after acquiring an additional 204,317 shares during the period. Fmr LLC’s holdings in Arvinas were worth $71,023,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC bought a new position in Arvinas in the 2nd quarter valued at approximately $42,000. nVerses Capital LLC purchased a new position in shares of Arvinas in the third quarter worth $39,000. Amalgamated Bank lifted its holdings in shares of Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after purchasing an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after buying an additional 440 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Arvinas by 37.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after buying an additional 1,798 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Trading Up 4.8 %

Shares of NASDAQ:ARVN opened at $25.92 on Friday. Arvinas, Inc. has a 12-month low of $21.17 and a 12-month high of $53.08. The company has a market cap of $1.78 billion, a PE ratio of -5.55 and a beta of 1.82. The stock has a 50 day moving average of $25.76 and a 200 day moving average of $26.53.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. During the same period in the prior year, the business earned ($1.18) earnings per share. Arvinas’s revenue was up 196.0% compared to the same quarter last year. Equities research analysts predict that Arvinas, Inc. will post -3.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARVN. BMO Capital Markets dropped their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Oppenheimer dropped their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research note on Thursday, October 31st. Finally, Stephens assumed coverage on Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective for the company. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.00.

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.