Exchange Traded Concepts LLC Boosts Holdings in Arvinas, Inc. (NASDAQ:ARVN)

Exchange Traded Concepts LLC increased its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 37.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,659 shares of the company’s stock after purchasing an additional 1,798 shares during the period. Exchange Traded Concepts LLC’s holdings in Arvinas were worth $164,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after purchasing an additional 1,448,166 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Arvinas by 14.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock worth $180,329,000 after buying an additional 536,295 shares during the last quarter. Candriam S.C.A. increased its stake in shares of Arvinas by 32.0% in the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock worth $16,250,000 after acquiring an additional 147,904 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Arvinas by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 463,935 shares of the company’s stock worth $12,347,000 after acquiring an additional 29,635 shares during the period. Finally, Opaleye Management Inc. grew its holdings in shares of Arvinas by 25.1% in the first quarter. Opaleye Management Inc. now owns 330,000 shares of the company’s stock valued at $13,622,000 after purchasing an additional 66,300 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Analyst Ratings Changes

ARVN has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. HC Wainwright reiterated a “buy” rating and set a $87.00 price target on shares of Arvinas in a research report on Thursday, August 1st. Wedbush restated an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a report on Tuesday, July 30th. Barclays dropped their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Finally, Oppenheimer lowered their price target on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.50.

Arvinas Stock Performance

Shares of ARVN opened at $25.76 on Tuesday. The stock has a 50-day simple moving average of $25.30 and a 200-day simple moving average of $28.30. Arvinas, Inc. has a 1 year low of $13.57 and a 1 year high of $53.08. The stock has a market capitalization of $1.76 billion, a PE ratio of -4.34 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.59. The firm had revenue of $76.50 million for the quarter, compared to analyst estimates of $33.27 million. The business’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.25) EPS. Analysts predict that Arvinas, Inc. will post -3.51 EPS for the current year.

About Arvinas

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.