Victory Capital Management Inc. Has $1.15 Million Stake in Arvinas, Inc. (NASDAQ:ARVN)

Victory Capital Management Inc. reduced its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 13.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,520 shares of the company’s stock after selling 7,392 shares during the quarter. Victory Capital Management Inc.’s holdings in Arvinas were worth $1,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARVN. Vanguard Group Inc. grew its holdings in shares of Arvinas by 29.9% in the 1st quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after purchasing an additional 1,448,166 shares during the last quarter. Candriam S.C.A. increased its holdings in shares of Arvinas by 32.0% during the second quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock worth $16,250,000 after buying an additional 147,904 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Arvinas in the 3rd quarter worth approximately $3,442,000. Panagora Asset Management Inc. boosted its holdings in shares of Arvinas by 57.4% in the 2nd 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 in the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in Arvinas during the 1st quarter worth approximately $2,795,000. 95.19% of the stock is owned by institutional investors.

Arvinas Trading Down 2.7 %

Arvinas stock opened at $24.48 on Wednesday. The firm has a market capitalization of $1.68 billion, a P/E ratio of -5.24 and a beta of 1.96. The business has a 50-day moving average of $25.64 and a 200-day moving average of $26.87. Arvinas, Inc. has a 1 year low of $21.17 and a 1 year high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. The firm’s revenue for the quarter was up 196.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.18) EPS. Research analysts anticipate that Arvinas, Inc. will post -3.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on ARVN shares. Barclays reduced their price objective 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. Stephens began coverage on shares of Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective for the company. BMO Capital Markets reduced their target price on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Finally, Oppenheimer decreased their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Arvinas presently has an average rating of “Moderate Buy” and a consensus target price of $61.08.

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.