Arvinas, Inc. (NASDAQ:ARVN) Shares Acquired by Fmr LLC

FMR LLC lifted its position in Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,883,604 shares of the company's stock after acquiring an additional 204,317 shares during the quarter. FMR LLC owned 4.20% of Arvinas worth $71,023,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in shares of Arvinas in the 2nd quarter worth approximately $42,000. nVerses Capital LLC acquired a new position in shares of Arvinas in the 3rd quarter worth approximately $39,000. Amalgamated Bank grew its position in shares of Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company's stock worth $59,000 after acquiring an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company's stock worth $61,000 after acquiring an additional 440 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in shares of Arvinas by 37.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company's stock worth $164,000 after acquiring an additional 1,798 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company's stock.

Arvinas Stock Up 4.8 %

Shares of ARVN traded up $1.18 during midday trading on Friday, reaching $25.92. The stock had a trading volume of 495,066 shares, compared to its average volume of 648,336. The firm's 50 day moving average price is $25.76 and its 200-day moving average price is $26.53. Arvinas, Inc. has a 52 week low of $21.17 and a 52 week high of $53.08.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. The business's revenue was up 196.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.18) earnings per share. On average, equities analysts predict that Arvinas, Inc. will post -3.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Arvinas in a report on Monday, September 9th. Oppenheimer cut their price target on Arvinas from $50.00 to $40.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. BMO Capital Markets cut 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. Stephens assumed coverage on Arvinas in a report on Monday, November 18th. They issued an "overweight" rating and a $55.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $87.00 price target on shares of Arvinas in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

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.