Wasatch Advisors LP Lowers Holdings in Arvinas, Inc. (NASDAQ:ARVN)

Wasatch Advisors LP reduced its position in Arvinas, Inc. (NASDAQ:ARVN) by 7.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,426 shares of the company’s stock after selling 15,516 shares during the period. Wasatch Advisors LP’s holdings in Arvinas were worth $8,563,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new stake in Arvinas during the fourth quarter worth approximately $75,000. Headlands Technologies LLC increased its stake in Arvinas by 393.4% during the fourth quarter. Headlands Technologies LLC now owns 2,388 shares of the company’s stock worth $98,000 after acquiring an additional 1,904 shares during the last quarter. Personal CFO Solutions LLC bought a new stake in Arvinas during the fourth quarter worth approximately $206,000. Exchange Traded Concepts LLC increased its stake in Arvinas by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,746 shares of the company’s stock worth $237,000 after acquiring an additional 1,457 shares during the last quarter. Finally, Cullinan Associates Inc. bought a new stake in Arvinas during the first quarter worth approximately $248,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Arvinas Stock Performance

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

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.45. The business had revenue of $25.30 million for the quarter, compared to analysts’ expectations of $32.94 million. During the same quarter in the prior year, the company posted ($1.54) EPS. The business’s revenue for the quarter was down 22.2% on a year-over-year basis. Sell-side analysts predict that Arvinas, Inc. will post -4.08 EPS for the current 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.