Joel Isaacson & Co. LLC Reduces Position in Arvinas, Inc. (NASDAQ:ARVN)

Joel Isaacson & Co. LLC decreased its holdings in shares of Arvinas, Inc. (NASDAQ:ARVNGet Rating) by 16.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 21,000 shares of the company’s stock after selling 4,000 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Arvinas were worth $884,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Arvinas by 12.7% during the fourth quarter. Invesco Ltd. now owns 543,797 shares of the company’s stock worth $44,668,000 after buying an additional 61,087 shares in the last quarter. Nordea Investment Management AB purchased a new stake in shares of Arvinas in the first quarter valued at about $245,000. Paradigm Biocapital Advisors LP grew its holdings in shares of Arvinas by 83.0% in the first quarter. Paradigm Biocapital Advisors LP now owns 491,333 shares of the company’s stock valued at $33,067,000 after purchasing an additional 222,814 shares during the period. Versor Investments LP grew its holdings in shares of Arvinas by 421.9% in the first quarter. Versor Investments LP now owns 21,921 shares of the company’s stock valued at $1,475,000 after purchasing an additional 17,721 shares during the period. Finally, Banque Pictet & Cie SA grew its holdings in shares of Arvinas by 4.0% in the first quarter. Banque Pictet & Cie SA now owns 28,818 shares of the company’s stock valued at $1,940,000 after purchasing an additional 1,115 shares during the period. Hedge funds and other institutional investors own 91.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Arvinas from $103.00 to $88.00 in a report on Thursday, August 18th. Oppenheimer dropped their price objective on shares of Arvinas from $108.00 to $102.00 and set an “outperform” rating for the company in a report on Monday, August 8th. HC Wainwright decreased their target price on shares of Arvinas from $135.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Wednesday. Finally, Barclays assumed coverage on shares of Arvinas in a research report on Friday, September 9th. They issued an “overweight” rating and a $90.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.13.

Insider Activity at Arvinas

In related news, insider Ronald Peck sold 1,258 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $68.99, for a total value of $86,789.42. Following the sale, the insider now owns 8,154 shares of the company’s stock, valued at $562,544.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.78% of the stock is owned by corporate insiders.

Arvinas Stock Performance

Shares of ARVN traded down $0.97 during mid-day trading on Friday, hitting $41.96. 4,565 shares of the company’s stock were exchanged, compared to its average volume of 345,195. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -9.63 and a beta of 2.06. Arvinas, Inc. has a fifty-two week low of $34.90 and a fifty-two week high of $97.33. The stock’s 50-day moving average is $48.96 and its 200-day moving average is $51.73.

Arvinas (NASDAQ:ARVNGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.30). The business had revenue of $31.30 million for the quarter, compared to analyst estimates of $23.71 million. Arvinas had a negative return on equity of 31.16% and a negative net margin of 255.97%. The firm’s revenue for the quarter was up 469.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.03) EPS. As a group, equities research analysts anticipate that Arvinas, Inc. will post -4.73 EPS for the current year.

Arvinas Profile

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Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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Institutional Ownership by Quarter for Arvinas (NASDAQ:ARVN)

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