Arvinas, Inc. (NASDAQ:ARVN) Stock Holdings Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 13.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,520 shares of the company’s stock after selling 7,392 shares during the period. Victory Capital Management Inc. owned about 0.07% of Arvinas worth $1,146,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ARVN. Quest Partners LLC acquired a new position in shares of Arvinas in the second quarter worth $42,000. nVerses Capital LLC acquired a new position in Arvinas in the 3rd quarter worth about $39,000. Amalgamated Bank raised its stake in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after purchasing an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Arvinas by 21.5% during the 3rd 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 in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Arvinas by 37.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock valued at $164,000 after buying an additional 1,798 shares during the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Trading Down 2.7 %

Shares of NASDAQ:ARVN opened at $24.48 on Wednesday. The firm has a market capitalization of $1.68 billion, a PE ratio of -5.24 and a beta of 1.96. Arvinas, Inc. has a 1-year low of $21.17 and a 1-year high of $53.08. The business’s 50 day moving average is $25.64 and its 200-day moving average is $26.87.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to the consensus estimate of $60.56 million. During the same period last year, the business earned ($1.18) earnings per share. The firm’s revenue for the quarter was up 196.0% compared to the same quarter last year. On average, sell-side analysts predict that Arvinas, Inc. will post -3.32 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on ARVN. HC Wainwright restated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a report on Thursday, October 31st. BMO Capital Markets lowered their target price on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Oppenheimer reduced their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.08.

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.