BNP Paribas Financial Markets Lowers Position in Arvinas, Inc. (NASDAQ:ARVN)

BNP Paribas Financial Markets lessened its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 55.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,349 shares of the company's stock after selling 47,343 shares during the period. BNP Paribas Financial Markets owned 0.05% of Arvinas worth $920,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in Arvinas by 7.6% during the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company's stock worth $71,023,000 after purchasing an additional 204,317 shares during the last quarter. Candriam S.C.A. increased its stake in shares of Arvinas by 32.0% in the second quarter. Candriam S.C.A. now owns 610,458 shares of the company's stock valued at $16,250,000 after buying an additional 147,904 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Arvinas during the third quarter worth about $3,442,000. Algert Global LLC lifted its stake in shares of Arvinas by 278.1% in the third quarter. Algert Global LLC now owns 168,061 shares of the company's stock worth $4,139,000 after acquiring an additional 123,613 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in shares of Arvinas by 57.4% in the second 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 during the period. Institutional investors own 95.19% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ARVN shares. Stephens initiated coverage on shares of Arvinas in a report on Monday, November 18th. They set an "overweight" rating and a $55.00 price target for the company. Oppenheimer decreased their price objective on shares of Arvinas from $50.00 to $40.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. BTIG Research began coverage on shares of Arvinas in a report on Tuesday. They issued a "buy" rating and a $69.00 target price on the stock. BMO Capital Markets cut their price target 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, HC Wainwright reissued a "buy" rating and issued a $87.00 price objective on shares of Arvinas in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $63.50.

Arvinas Trading Down 12.4 %

ARVN stock traded down $2.80 during trading on Thursday, reaching $19.74. 2,486,685 shares of the stock were exchanged, compared to its average volume of 719,877. The firm's 50 day moving average is $25.72 and its 200 day moving average is $26.23. The firm has a market cap of $1.36 billion, a P/E ratio of -4.23 and a beta of 1.82. Arvinas, Inc. has a twelve month low of $19.67 and a twelve month high of $53.08.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. During the same quarter in the prior year, the firm earned ($1.18) EPS. The company's revenue was up 196.0% compared to the same quarter last year. As a group, analysts predict that Arvinas, Inc. will post -3.22 earnings per share for the current fiscal year.

Arvinas Company 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.