Millennium Management LLC Has $5.33 Million Holdings in Arvinas, Inc. (NASDAQ:ARVN)

Millennium Management LLC reduced its position in Arvinas, Inc. (NASDAQ:ARVN) by 17.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,199 shares of the company’s stock after selling 43,468 shares during the period. Millennium Management LLC owned about 0.29% of Arvinas worth $5,329,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Squarepoint Ops LLC increased its position in Arvinas by 45.2% in the 2nd quarter. Squarepoint Ops LLC now owns 118,899 shares of the company’s stock worth $3,165,000 after purchasing an additional 37,028 shares during the last quarter. Marshall Wace LLP acquired a new position in Arvinas in the 2nd quarter worth about $538,000. Magnetar Financial LLC increased its position in Arvinas by 112.7% in the 2nd quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock worth $1,118,000 after purchasing an additional 22,245 shares during the last quarter. Profund Advisors LLC increased its position in Arvinas by 47.6% in the 2nd quarter. Profund Advisors LLC now owns 15,954 shares of the company’s stock worth $425,000 after purchasing an additional 5,145 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Arvinas by 8.5% during the 2nd quarter. Sei Investments Co. now owns 26,594 shares of the company’s stock worth $708,000 after acquiring an additional 2,093 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

Arvinas Stock Performance

Shares of ARVN opened at $26.13 on Friday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -5.05 and a beta of 1.97. The business’s fifty day moving average price is $25.09 and its two-hundred day moving average price is $29.03. Arvinas, Inc. has a 52 week low of $13.57 and a 52 week high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.59. The firm had revenue of $76.50 million during the quarter, compared to the consensus estimate of $33.27 million. The firm’s quarterly revenue was up 40.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.25) earnings per share. As a group, research analysts forecast that Arvinas, Inc. will post -3.51 EPS for the current year.

Wall Street Analyst Weigh In

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

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.