Y Intercept Hong Kong Ltd Buys 137,794 Shares of Arvinas, Inc. $ARVN

Y Intercept Hong Kong Ltd lifted its holdings in shares of Arvinas, Inc. (NASDAQ:ARVN) by 94.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 283,539 shares of the company’s stock after buying an additional 137,794 shares during the period. Y Intercept Hong Kong Ltd owned about 0.39% of Arvinas worth $2,416,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Arvinas by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after purchasing an additional 2,122 shares during the period. Oxford Asset Management LLP raised its position in shares of Arvinas by 15.5% in the 2nd quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock worth $123,000 after acquiring an additional 2,242 shares in the last quarter. Nebula Research & Development LLC lifted its holdings in shares of Arvinas by 3.9% during the 2nd quarter. Nebula Research & Development LLC now owns 76,747 shares of the company’s stock valued at $565,000 after purchasing an additional 2,910 shares during the last quarter. AlphaQuest LLC grew its position in Arvinas by 18.7% during the 2nd quarter. AlphaQuest LLC now owns 19,573 shares of the company’s stock worth $144,000 after purchasing an additional 3,086 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after purchasing an additional 3,500 shares during the period. 95.19% of the stock is currently owned by institutional investors.

Arvinas Stock Down 2.3%

Shares of ARVN stock traded down $0.32 during trading hours on Wednesday, hitting $13.30. 35,010 shares of the company were exchanged, compared to its average volume of 705,169. Arvinas, Inc. has a 1 year low of $5.90 and a 1 year high of $20.38. The firm has a market cap of $854.32 million, a PE ratio of -16.39 and a beta of 1.89. The firm has a fifty day moving average of $12.20 and a 200 day moving average of $9.76.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on ARVN. Piper Sandler reissued an “overweight” rating and issued a $16.00 price objective on shares of Arvinas in a report on Tuesday, October 7th. Citigroup upgraded shares of Arvinas from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.00 to $15.00 in a research note on Tuesday, January 6th. BTIG Research raised 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. Wells Fargo & Company decreased their price objective on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, Barclays boosted their target price on Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.79.

About Arvinas

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.