Bellevue Group AG Cuts Stake in Arvinas, Inc. (NASDAQ:ARVN)

Bellevue Group AG lessened its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,386,600 shares of the company’s stock after selling 4,200 shares during the quarter. Arvinas accounts for 1.0% of Bellevue Group AG’s investment portfolio, making the stock its 27th biggest position. Bellevue Group AG owned 3.47% of Arvinas worth $58,782,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Arvinas in the second quarter worth about $42,000. nVerses Capital LLC bought a new position in Arvinas during the 3rd quarter worth approximately $39,000. 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 worth $59,000 after purchasing an additional 508 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Arvinas by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after purchasing an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of 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 purchasing an additional 2,601 shares during the period. 95.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on ARVN. Oppenheimer decreased their target price 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. HC Wainwright restated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research report on Thursday, October 31st. Stephens started coverage on shares of Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price for the company. BMO Capital Markets reduced their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.08.

Arvinas Stock Up 2.8 %

Shares of ARVN stock opened at $26.72 on Friday. The business’s fifty day moving average is $25.68 and its 200 day moving average is $26.77. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -5.72 and a beta of 1.96. Arvinas, Inc. has a twelve month low of $21.17 and a twelve month high of $53.08.

Arvinas (NASDAQ:ARVN) last released its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. The firm’s quarterly revenue was up 196.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.18) earnings per share. Equities research analysts expect that Arvinas, Inc. will post -3.32 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.