Y Intercept Hong Kong Ltd Has $2.42 Million Holdings in Arvinas, Inc. $ARVN

Y Intercept Hong Kong Ltd grew its holdings in Arvinas, Inc. (NASDAQ:ARVN) by 94.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 283,539 shares of the company’s stock after buying an additional 137,794 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Arvinas were worth $2,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC purchased a new stake in shares of Arvinas in the first quarter valued at about $727,000. Jacobs Levy Equity Management Inc. bought a new position in Arvinas during the first quarter worth about $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Arvinas by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after acquiring an additional 2,122 shares during the period. Millennium Management LLC boosted its stake in Arvinas by 208.4% in the 1st quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock worth $9,198,000 after purchasing an additional 885,483 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Arvinas by 108.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company’s stock valued at $6,339,000 after acquiring an additional 469,394 shares in the last quarter. 95.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARVN. Citigroup upgraded shares of Arvinas from a “neutral” rating to a “buy” rating and raised their price objective for the company from $10.00 to $15.00 in a research report on Tuesday, January 6th. The Goldman Sachs Group restated a “sell” rating and set a $6.00 price target (down previously from $8.00) on shares of Arvinas in a research report on Wednesday, October 15th. Piper Sandler reiterated an “overweight” rating and set a $16.00 price objective on shares of Arvinas in a research report on Tuesday, October 7th. BTIG Research boosted their target price on Arvinas from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company reduced their price target on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.79.

Arvinas Trading Down 2.3%

NASDAQ:ARVN traded down $0.32 on Wednesday, reaching $13.30. 35,010 shares of the stock traded hands, compared to its average volume of 705,169. The company’s fifty day simple moving average is $12.20 and its 200 day simple moving average is $9.76. The company has a market capitalization of $854.32 million, a price-to-earnings ratio of -16.39 and a beta of 1.89. Arvinas, Inc. has a 12 month low of $5.90 and a 12 month high of $20.38.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.27. The firm had revenue of $41.90 million during the quarter, compared to analysts’ expectations of $29.36 million. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The firm’s quarterly revenue was down 59.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.68) earnings per share. Equities analysts anticipate that Arvinas, Inc. will post -3.81 EPS for the current fiscal year.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.