Parkman Healthcare Partners LLC Sells 28,978 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Parkman Healthcare Partners LLC decreased its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 23.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,183 shares of the company's stock after selling 28,978 shares during the quarter. Parkman Healthcare Partners LLC owned approximately 0.14% of Arvinas worth $2,369,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in Arvinas in the 3rd quarter worth about $39,000. Quest Partners LLC acquired a new position in shares of Arvinas in the 2nd quarter valued at approximately $42,000. Amalgamated Bank raised its position in Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company's stock valued at $59,000 after purchasing an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $61,000 after purchasing an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP raised its position 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 purchasing an additional 2,601 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company's stock.

Arvinas Price Performance

Shares of ARVN traded up $1.20 during midday trading on Wednesday, hitting $25.39. 736,540 shares of the company traded hands, compared to its average volume of 713,527. Arvinas, Inc. has a one year low of $21.17 and a one year high of $53.08. The firm has a market cap of $1.74 billion, a P/E ratio of -5.44 and a beta of 1.82. The stock has a 50-day moving average of $25.70 and a 200-day moving average of $26.60.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating analysts' consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analysts' expectations of $60.56 million. During the same period in the prior year, the business earned ($1.18) earnings per share. The company's revenue for the quarter was up 196.0% compared to the same quarter last year. Sell-side analysts forecast that Arvinas, Inc. will post -3.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Stephens assumed coverage on shares of Arvinas in a research report on Monday, November 18th. They set an "overweight" rating and a $55.00 price objective for the company. Cantor Fitzgerald restated an "overweight" rating on shares of Arvinas in a report on Monday, September 9th. BMO Capital Markets cut their price objective 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. HC Wainwright reiterated a "buy" rating and issued a $87.00 target price on shares of Arvinas in a report on Thursday, October 31st. Finally, Oppenheimer dropped their price objective 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. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.08.

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.