Arvinas, Inc. (NASDAQ:ARVN) Shares Sold by RTW Investments LP

RTW Investments LP trimmed its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN - Free Report) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,782,329 shares of the company's stock after selling 185,568 shares during the period. RTW Investments LP owned about 4.05% of Arvinas worth $68,529,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Quest Partners LLC acquired a new position in Arvinas during the second quarter worth $42,000. nVerses Capital LLC purchased a new stake in shares of Arvinas during the 3rd quarter worth $39,000. Amalgamated Bank grew its stake in shares of Arvinas by 29.6% during 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. increased its holdings 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 valued at $61,000 after purchasing an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company's stock worth $108,000 after buying an additional 2,601 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARVN. HC Wainwright reaffirmed a "buy" rating and issued a $87.00 target price on shares of Arvinas in a report on Thursday, October 31st. Oppenheimer dropped their price objective on Arvinas from $50.00 to $40.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. BMO Capital Markets decreased their target price on Arvinas from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 20th. Cantor Fitzgerald reissued an "overweight" rating on shares of Arvinas in a report on Monday, September 9th. Finally, Stephens assumed coverage on Arvinas in a research note on Monday, November 18th. They set an "overweight" rating and a $55.00 price target for the company. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Arvinas has an average rating of "Moderate Buy" and a consensus target price of $61.08.

Arvinas Trading Down 2.6 %

Shares of Arvinas stock traded down $0.65 during mid-day trading on Thursday, hitting $24.74. 491,824 shares of the stock were exchanged, compared to its average volume of 712,584. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -5.30 and a beta of 1.82. Arvinas, Inc. has a twelve month low of $21.17 and a twelve month high of $53.08. The company has a 50-day simple moving average of $25.74 and a 200 day simple moving average of $26.58.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced 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 firm had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. The firm's revenue was up 196.0% compared to the same quarter last year. During the same quarter last year, the business posted ($1.18) EPS. Equities research analysts forecast that Arvinas, Inc. will post -3.24 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.