Arvinas, Inc. (NASDAQ:ARVN) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,519,334 shares of the company’s stock after selling 22,403 shares during the period. Geode Capital Management LLC’s holdings in Arvinas were worth $37,428,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARVN. Bank of New York Mellon Corp lifted its holdings in Arvinas by 32.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company’s stock valued at $6,258,000 after purchasing an additional 57,835 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Arvinas by 13.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 14,298 shares of the company’s stock valued at $381,000 after buying an additional 1,728 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Arvinas by 30.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,062 shares of the company’s stock valued at $268,000 after buying an additional 2,363 shares during the period. Panagora Asset Management Inc. boosted its position in Arvinas by 57.4% during the second quarter. Panagora Asset Management Inc. now owns 256,658 shares of the company’s stock worth $6,832,000 after acquiring an additional 93,568 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Arvinas by 26.7% in the 2nd quarter. Rhumbline Advisers now owns 90,229 shares of the company’s stock worth $2,402,000 after acquiring an additional 19,024 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Wall Street Analyst Weigh In

ARVN has been the topic of a number of recent analyst reports. Guggenheim reissued a “buy” rating on shares of Arvinas in a research note on Thursday, December 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. BTIG Research assumed coverage on shares of Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Wednesday, December 11th. Finally, BMO Capital Markets dropped their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Arvinas presently has a consensus rating of “Moderate Buy” and an average target price of $63.50.

Arvinas Price Performance

NASDAQ:ARVN opened at $18.73 on Wednesday. Arvinas, Inc. has a 12 month low of $17.37 and a 12 month high of $53.08. The business’s 50-day moving average is $24.54 and its two-hundred day moving average is $25.43. The firm has a market capitalization of $1.29 billion, a PE ratio of -4.01 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. The business’s revenue was up 196.0% on a year-over-year basis. During the same period last year, the firm posted ($1.18) earnings per share. Equities analysts anticipate that Arvinas, Inc. will post -3.22 EPS for the current year.

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.