Arvinas, Inc. (NASDAQ:ARVN) Shares Sold by Bellevue Group AG

Bellevue Group AG lessened its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,390,800 shares of the company’s stock after selling 116,931 shares during the quarter. Arvinas accounts for approximately 1.5% of Bellevue Group AG’s holdings, making the stock its 20th largest holding. Bellevue Group AG owned 3.49% of Arvinas worth $98,692,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Arvinas in the 1st quarter worth approximately $44,000. McGlone Suttner Wealth Management Inc. acquired a new position in Arvinas during the fourth quarter valued at $75,000. Headlands Technologies LLC grew its holdings 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 period. Personal CFO Solutions LLC purchased a new stake in Arvinas during the fourth quarter worth $206,000. Finally, Cullinan Associates Inc. purchased a new stake in shares of Arvinas during the 1st quarter worth about $248,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ARVN. Stifel Nicolaus reduced their target price on Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Friday, May 17th. Wells Fargo & Company cut their target price on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Finally, Wedbush restated an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and an average target price of $61.13.

Arvinas Stock Up 0.4 %

Shares of ARVN traded up $0.13 during midday trading on Friday, reaching $29.65. The company had a trading volume of 393,067 shares, compared to its average volume of 874,254. Arvinas, Inc. has a 1-year low of $13.57 and a 1-year high of $53.08. The firm has a 50 day simple moving average of $28.52 and a 200-day simple moving average of $36.19. The stock has a market cap of $2.03 billion, a PE ratio of -5.00 and a beta of 1.98.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.45. The firm had revenue of $25.30 million for the quarter, compared to analyst estimates of $32.94 million. Arvinas’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.54) earnings per share. As a group, sell-side analysts anticipate that Arvinas, Inc. will post -4.08 earnings per share for the current fiscal year.

Arvinas 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.