Arvinas, Inc. (NASDAQ:ARVN) Shares Bought by HighVista Strategies LLC

HighVista Strategies LLC lifted its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 13.5% during the third quarter, HoldingsChannel.com reports. The firm owned 58,001 shares of the company’s stock after purchasing an additional 6,879 shares during the period. HighVista Strategies LLC’s holdings in Arvinas were worth $1,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ArrowMark Colorado Holdings LLC grew its stake in shares of Arvinas by 1.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock worth $30,651,000 after purchasing an additional 17,723 shares during the period. Baker BROS. Advisors LP acquired a new position in shares of Arvinas during the 3rd quarter worth $9,989,000. Wasatch Advisors LP grew its stake in shares of Arvinas by 58.3% during the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after purchasing an additional 160,510 shares during the period. Braidwell LP grew its stake in shares of Arvinas by 148.3% during the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after purchasing an additional 767,242 shares during the period. Finally, PEAK6 Investments LLC grew its stake in shares of Arvinas by 42.9% during the 3rd quarter. PEAK6 Investments LLC now owns 15,000 shares of the company’s stock worth $369,000 after purchasing an additional 4,500 shares during the period. 95.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARVN. Oppenheimer lowered their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Stephens started coverage on shares of Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective on the stock. BMO Capital Markets lowered their price objective on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and an average target price of $61.08.

Arvinas Trading Down 3.7 %

NASDAQ:ARVN opened at $25.72 on Tuesday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -5.51 and a beta of 1.96. The company’s 50-day moving average is $25.71 and its two-hundred day moving average is $26.66. Arvinas, Inc. has a 12-month low of $21.17 and a 12-month high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data 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 company had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $60.56 million. The company’s revenue was up 196.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.18) earnings per share. On average, equities research analysts forecast that Arvinas, Inc. will post -3.24 earnings per share for the current fiscal 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.