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

Algert Global LLC increased its position in shares of Arvinas, Inc. (NASDAQ:ARVN) by 278.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 168,061 shares of the company’s stock after buying an additional 123,613 shares during the quarter. Algert Global LLC’s holdings in Arvinas were worth $4,139,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 acquiring an additional 440 shares in the last quarter. American International Group Inc. boosted its position in Arvinas by 1.8% during the first quarter. American International Group Inc. now owns 24,857 shares of the company’s stock worth $1,026,000 after purchasing an additional 449 shares in the last quarter. Amalgamated Bank grew its holdings in Arvinas by 29.6% in 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 during the period. Edgestream Partners L.P. increased its position in shares of Arvinas by 16.3% in the second quarter. Edgestream Partners L.P. now owns 9,311 shares of the company’s stock valued at $248,000 after buying an additional 1,305 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Arvinas during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Analysts Set New Price Targets

ARVN has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Oppenheimer reduced their price target 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. Barclays lowered their price objective on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Stephens began coverage on Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price on the stock. Finally, BMO Capital Markets dropped their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and an average target price of $61.08.

Arvinas Stock Performance

ARVN stock opened at $25.86 on Monday. The firm’s 50 day moving average price is $25.64 and its 200-day moving average price is $26.92. 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 $1.78 billion, a PE ratio of -5.54 and a beta of 1.96.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) 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 analysts’ expectations of $60.56 million. During the same period last year, the firm posted ($1.18) earnings per share. Arvinas’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 EPS 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.