Wasatch Advisors LP Decreases Stake in Arvinas, Inc. (NASDAQ:ARVN)

Wasatch Advisors LP lessened its stake in Arvinas, Inc. (NASDAQ:ARVN) by 7.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 207,426 shares of the company’s stock after selling 15,516 shares during the quarter. Wasatch Advisors LP owned 0.30% of Arvinas worth $8,563,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Great Point Partners LLC acquired a new position in Arvinas during the fourth quarter worth approximately $9,635,000. Boxer Capital LLC acquired a new position in Arvinas during the fourth quarter worth approximately $25,051,000. Charles Schwab Investment Management Inc. increased its position in Arvinas by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 469,474 shares of the company’s stock worth $19,324,000 after buying an additional 39,484 shares during the period. Rhenman & Partners Asset Management AB increased its position in Arvinas by 58.0% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 134,270 shares of the company’s stock worth $5,527,000 after buying an additional 49,270 shares during the period. Finally, Nomura Asset Management Co. Ltd. acquired a new position in Arvinas during the fourth quarter worth approximately $2,506,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Stock Down 4.3 %

Shares of ARVN traded down $1.13 during mid-day trading on Tuesday, reaching $24.85. 416,415 shares of the stock traded hands, compared to its average volume of 778,548. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -4.19 and a beta of 1.98. The stock has a fifty day simple moving average of $29.99 and a 200 day simple moving average of $37.68. Arvinas, Inc. has a 12-month low of $13.57 and a 12-month high of $53.08.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.45. The business had revenue of $25.30 million during the quarter, compared to analyst estimates of $32.94 million. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.54) EPS. On average, equities research analysts expect that Arvinas, Inc. will post -4.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on ARVN. Wedbush restated an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a research note on Wednesday, May 8th. Stifel Nicolaus dropped their target price on Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Truist Financial reaffirmed a “buy” rating and set a $65.00 price objective on shares of Arvinas in a report on Monday, March 25th. HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a research report on Friday, May 17th. Finally, Wells Fargo & Company lowered their price target on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.13.

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.