The Manufacturers Life Insurance Company Reduces Stock Holdings in Arvinas, Inc. (NASDAQ:ARVN)

The Manufacturers Life Insurance Company lessened its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,406 shares of the company’s stock after selling 4,699 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.13% of Arvinas worth $2,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ARVN. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. BMO Capital Markets lowered their price target 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. Oppenheimer cut their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research report on Thursday, October 31st. Finally, Stephens assumed coverage on Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Arvinas has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Arvinas Price Performance

Shares of Arvinas stock opened at $25.92 on Monday. The business has a 50 day simple moving average of $25.76 and a two-hundred day simple moving average of $26.40. The stock has a market capitalization of $1.78 billion, a P/E ratio of -5.55 and a beta of 1.82. Arvinas, Inc. has a 12 month low of $21.17 and a 12 month high of $53.08.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. During the same period in the prior year, the company posted ($1.18) earnings per share. The firm’s revenue for the quarter was up 196.0% compared to the same quarter last year. As a group, research analysts anticipate that Arvinas, Inc. will post -3.22 EPS 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.