Intech Investment Management LLC Invests $350,000 in Arvinas, Inc. (NASDAQ:ARVN)

Intech Investment Management LLC purchased a new stake in Arvinas, Inc. (NASDAQ:ARVN) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,226 shares of the company’s stock, valued at approximately $350,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in shares of Arvinas during the third quarter worth about $39,000. Quest Partners LLC bought a new position in shares of Arvinas during the second quarter worth about $42,000. Amalgamated Bank lifted its position in shares of Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after purchasing an additional 508 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after purchasing an additional 440 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Arvinas by 37.0% during the third quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after acquiring an additional 1,798 shares during the period. 95.19% of the stock is owned by hedge funds and other institutional investors.

Arvinas Stock Performance

Arvinas stock opened at $24.19 on Wednesday. The firm’s fifty day simple moving average is $25.71 and its 200-day simple moving average is $26.66. Arvinas, Inc. has a 1-year low of $21.17 and a 1-year high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. During the same quarter last year, the firm earned ($1.18) EPS. Arvinas’s revenue for the quarter was up 196.0% compared to the same quarter last year. On average, research analysts predict that Arvinas, Inc. will post -3.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ARVN shares. Stephens started coverage on shares of Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. 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. BMO Capital Markets dropped their price objective on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.08.

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.