Invesco Ltd. Sells 66,640 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Invesco Ltd. cut its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,235 shares of the biotechnology company's stock after selling 66,640 shares during the period. Invesco Ltd. owned about 0.14% of Arrowhead Pharmaceuticals worth $3,313,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $38,622,000. Charles Schwab Investment Management Inc. grew its position in shares of Arrowhead Pharmaceuticals by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company's stock valued at $19,133,000 after buying an additional 10,785 shares during the last quarter. abrdn plc increased its stake in shares of Arrowhead Pharmaceuticals by 12.2% in the fourth quarter. abrdn plc now owns 450,075 shares of the biotechnology company's stock valued at $8,461,000 after buying an additional 48,929 shares during the period. Privium Fund Management B.V. raised its position in shares of Arrowhead Pharmaceuticals by 14.2% during the fourth quarter. Privium Fund Management B.V. now owns 380,586 shares of the biotechnology company's stock worth $7,155,000 after acquiring an additional 47,230 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Arrowhead Pharmaceuticals by 2.1% in the fourth quarter. Rhumbline Advisers now owns 380,344 shares of the biotechnology company's stock worth $7,150,000 after acquiring an additional 7,912 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 51,425 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $15.07, for a total value of $774,974.75. Following the transaction, the chief executive officer now directly owns 4,062,377 shares in the company, valued at $61,220,021.39. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 275,880 shares of company stock worth $4,034,037. 4.30% of the stock is owned by company insiders.

Arrowhead Pharmaceuticals Stock Up 5.5 %

Shares of ARWR traded up $0.78 during trading hours on Friday, reaching $14.82. The stock had a trading volume of 288,823 shares, compared to its average volume of 1,445,025. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -2.87 and a beta of 0.99. The firm has a 50-day simple moving average of $14.06 and a 200 day simple moving average of $18.27. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $9.57 and a 12 month high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.97). Equities research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARWR has been the subject of several analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Chardan Capital reaffirmed a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, B. Riley reissued a "buy" rating and issued a $38.00 price objective (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of "Hold" and an average price target of $41.44.

Arrowhead Pharmaceuticals Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.