Algert Global LLC Buys 123,613 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Algert Global LLC grew its position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 278.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 168,061 shares of the company's stock after buying an additional 123,613 shares during the period. Algert Global LLC owned approximately 0.24% of Arvinas worth $4,139,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ARVN. Intech Investment Management LLC bought a new position in Arvinas during the third quarter worth about $350,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Arvinas by 64.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,203 shares of the company's stock valued at $325,000 after purchasing an additional 5,163 shares in the last quarter. abrdn plc grew its position in shares of Arvinas by 27.8% in the 3rd quarter. abrdn plc now owns 78,585 shares of the company's stock valued at $1,936,000 after purchasing an additional 17,093 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company's stock worth $61,000 after purchasing an additional 440 shares in the last quarter. Finally, E. Ohman J or Asset Management AB raised its holdings in Arvinas by 20.1% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 29,830 shares of the company's stock worth $735,000 after buying an additional 5,000 shares during the period. Institutional investors own 95.19% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ARVN shares. BMO Capital Markets reduced their price target on shares of Arvinas from $90.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. Wedbush reiterated an "outperform" rating and set a $57.00 target price on shares of Arvinas in a report on Tuesday, July 30th. Barclays cut their price target on Arvinas from $60.00 to $48.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. HC Wainwright reiterated a "buy" rating and set a $87.00 price objective on shares of Arvinas in a report on Thursday, October 31st. Finally, Oppenheimer cut their target price on Arvinas from $50.00 to $40.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.08.

Arvinas Stock Performance

ARVN traded down $0.71 during trading on Monday, reaching $25.15. 496,195 shares of the stock were exchanged, compared to its average volume of 719,125. The stock's 50 day moving average price is $25.64 and its two-hundred day moving average price is $26.92. Arvinas, Inc. has a twelve month low of $21.17 and a twelve month high of $53.08. The stock has a market cap of $1.73 billion, a P/E ratio of -5.39 and a beta of 1.96.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate 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. During the same quarter in the prior year, the firm earned ($1.18) earnings per share. The firm's revenue for the quarter was up 196.0% on a year-over-year basis. Equities research analysts predict 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.