Geode Capital Management LLC Lowers Stock Position in Arvinas, Inc. (NASDAQ:ARVN)

Geode Capital Management LLC trimmed its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,519,334 shares of the company’s stock after selling 22,403 shares during the quarter. Geode Capital Management LLC owned approximately 2.21% of Arvinas worth $37,428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. nVerses Capital LLC purchased a new stake in shares of Arvinas in the third quarter valued at about $39,000. Quest Partners LLC purchased a new position in shares of Arvinas during the second quarter worth about $42,000. Amalgamated Bank increased its position in Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after acquiring an additional 508 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after acquiring an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in Arvinas by 147.3% during the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after acquiring an additional 2,601 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Stock Performance

Arvinas stock opened at $18.73 on Wednesday. Arvinas, Inc. has a fifty-two week low of $17.37 and a fifty-two week high of $53.08. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.01 and a beta of 1.82. The stock’s fifty day moving average is $24.54 and its two-hundred day moving average is $25.43.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates 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. Arvinas’s revenue was up 196.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.18) earnings per share. As a group, sell-side analysts forecast that Arvinas, Inc. will post -3.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on ARVN shares. Guggenheim restated a “buy” rating on shares of Arvinas in a research note on Thursday, December 12th. BTIG Research started coverage on shares of Arvinas in a research note on Tuesday, December 10th. They issued a “buy” rating and a $69.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research report on Wednesday, December 11th. Finally, BMO Capital Markets dropped their target price on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arvinas has an average rating of “Moderate Buy” and a consensus price target of $63.50.

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.