Exchange Traded Concepts LLC Grows Position in Arvinas, Inc. (NASDAQ:ARVN)

Exchange Traded Concepts LLC increased its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 37.0% during the third quarter, HoldingsChannel.com reports. The fund owned 6,659 shares of the company’s stock after buying an additional 1,798 shares during the period. Exchange Traded Concepts LLC’s holdings in Arvinas were worth $164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of Arvinas in the second quarter valued at about $42,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Arvinas during the first quarter worth approximately $44,000. Amalgamated Bank increased its stake in Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after buying an additional 508 shares during the period. Contravisory Investment Management Inc. purchased a new position in Arvinas during the 2nd quarter worth $185,000. Finally, Cullinan Associates Inc. purchased a new stake in shares of Arvinas in the first quarter valued at about $248,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Wall Street Analyst Weigh In

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

Arvinas Stock Performance

Shares of ARVN opened at $25.76 on Tuesday. The company has a market capitalization of $1.76 billion, a PE ratio of -4.34 and a beta of 1.97. The stock has a fifty day moving average of $25.30 and a two-hundred day moving average of $28.30. Arvinas, Inc. has a fifty-two week low of $13.57 and a fifty-two week high of $53.08.

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