Arvinas, Inc. (NASDAQ:ARVN) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC decreased its position in Arvinas, Inc. (NASDAQ:ARVN) by 57.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,631 shares of the company’s stock after selling 52,720 shares during the period. Verition Fund Management LLC’s holdings in Arvinas were worth $951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Arvinas in the third quarter valued at about $39,000. Quest Partners LLC acquired a new stake in shares of Arvinas in the 2nd quarter valued at approximately $42,000. Amalgamated Bank lifted its holdings in shares of Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after buying an additional 508 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Arvinas by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after buying an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP grew 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 acquiring an additional 2,601 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ARVN shares. Stephens began coverage on shares of Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price on the stock. BMO Capital Markets decreased their price objective on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a research report on Thursday, October 31st. 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Arvinas Trading Up 4.8 %

Shares of ARVN stock opened at $25.92 on Monday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -5.55 and a beta of 1.82. The firm has a 50-day moving average price of $25.76 and a 200 day moving average price of $26.40. Arvinas, Inc. has a twelve month low of $21.17 and a twelve month high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share (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 analysts’ expectations of $60.56 million. The business’s quarterly revenue was up 196.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.18) EPS. As a group, research analysts predict that Arvinas, Inc. will post -3.22 earnings per share for the current 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.