Arvinas, Inc. (NASDAQ:ARVN) Stake Cut by State Street Corp

State Street Corp lessened its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 3.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,643,727 shares of the company’s stock after selling 55,961 shares during the period. State Street Corp’s holdings in Arvinas were worth $40,485,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ARVN. nVerses Capital LLC acquired a new stake in Arvinas in the third quarter valued at approximately $39,000. Quest Partners LLC acquired a new stake in shares of Arvinas in the 2nd quarter valued at $42,000. Amalgamated Bank boosted its holdings in Arvinas by 29.6% in the second 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. Mirae Asset Global Investments Co. Ltd. increased its position in Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after buying an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after buying an additional 2,601 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Stock Up 3.6 %

Shares of ARVN stock opened at $18.48 on Friday. The company has a market capitalization of $1.27 billion, a P/E ratio of -3.96 and a beta of 1.82. Arvinas, Inc. has a 12-month low of $17.37 and a 12-month high of $53.08. The firm has a 50-day moving average price of $24.99 and a 200 day moving average price of $25.66.

Arvinas (NASDAQ:ARVN) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $60.56 million. The business’s revenue was up 196.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.18) EPS. As a group, research analysts expect that Arvinas, Inc. will post -3.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARVN. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Stephens started coverage on shares of Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Wednesday, December 11th. BMO Capital Markets dropped their target price 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. Finally, BTIG Research assumed coverage on shares of Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target for the company. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and a consensus price target of $63.50.

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.