Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. grew its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 266.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 372,749 shares of the biotechnology company's stock after acquiring an additional 270,897 shares during the period. Balyasny Asset Management L.P. owned about 0.30% of Arrowhead Pharmaceuticals worth $7,008,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ARWR. Nordea Investment Management AB raised its position in Arrowhead Pharmaceuticals by 6.3% in the fourth quarter. Nordea Investment Management AB now owns 132,188 shares of the biotechnology company's stock valued at $2,463,000 after purchasing an additional 7,776 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at $205,000. KBC Group NV increased its stake in Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company's stock worth $98,000 after purchasing an additional 1,644 shares during the period. Pacer Advisors Inc. increased its stake in Arrowhead Pharmaceuticals by 11.6% during the fourth quarter. Pacer Advisors Inc. now owns 27,918 shares of the biotechnology company's stock worth $525,000 after purchasing an additional 2,907 shares during the period. Finally, R Squared Ltd purchased a new stake in Arrowhead Pharmaceuticals during the fourth quarter worth about $38,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed 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 objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. Citigroup cut their price objective on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Tuesday. B. Riley reaffirmed a "buy" rating and issued a $38.00 price target (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $40.44.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 50,800 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, April 11th. The shares were sold at an average price of $11.49, for a total value of $583,692.00. Following the transaction, the chief executive officer now directly owns 3,921,255 shares in the company, valued at approximately $45,055,219.95. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 275,880 shares of company stock worth $4,034,037. Corporate insiders own 4.30% of the company's stock.

Arrowhead Pharmaceuticals Stock Up 9.4%

ARWR stock traded up $1.31 during midday trading on Tuesday, reaching $15.28. 4,491,136 shares of the company were exchanged, compared to its average volume of 1,472,167. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $30.41. The stock's 50-day simple moving average is $13.38 and its 200 day simple moving average is $17.91. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -2.96 and a beta of 0.89.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, topping the consensus estimate of ($0.06) by $2.81. The company had revenue of $542.71 million for the quarter, compared to analyst estimates of $116.27 million. During the same quarter in the prior year, the business earned ($1.02) earnings per share. On average, equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

About Arrowhead Pharmaceuticals

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.