Algert Global LLC Purchases 123,613 Shares of Arvinas, Inc. (NASDAQ:ARVN)

Algert Global LLC grew its position in shares of Arvinas, Inc. (NASDAQ:ARVN) by 278.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 168,061 shares of the company’s stock after acquiring an additional 123,613 shares during the quarter. Algert Global LLC owned about 0.24% of Arvinas worth $4,139,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new position in Arvinas during the second quarter valued at $42,000. nVerses Capital LLC purchased a new stake in shares of Arvinas during the 3rd quarter valued at about $39,000. Amalgamated Bank lifted its holdings in shares of 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 last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Arvinas by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after acquiring an additional 440 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Arvinas by 37.0% during the third quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after acquiring an additional 1,798 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ARVN. HC Wainwright reiterated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a report on Thursday, October 31st. Oppenheimer dropped their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Wedbush reissued an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a research note on Tuesday, July 30th. Stephens assumed coverage on shares of Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.08.

Arvinas Trading Up 3.0 %

Shares of Arvinas stock opened at $25.86 on Monday. Arvinas, Inc. has a 12 month low of $21.17 and a 12 month high of $53.08. The stock’s fifty day moving average price is $25.64 and its 200-day moving average price is $26.92. The firm has a market cap of $1.78 billion, a P/E ratio of -5.54 and a beta of 1.96.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. Arvinas’s revenue for the quarter was up 196.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.18) EPS. Analysts forecast that Arvinas, Inc. will post -3.32 earnings per share for the current year.

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.