Farallon Capital Management LLC Acquires Shares of 628,800 Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Farallon Capital Management LLC acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 628,800 shares of the biotechnology company's stock, valued at approximately $11,821,000. Farallon Capital Management LLC owned about 0.50% of Arrowhead Pharmaceuticals at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $38,000. Van ECK Associates Corp lifted its holdings in Arrowhead Pharmaceuticals by 72.3% in the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company's stock valued at $56,000 after purchasing an additional 1,250 shares in the last quarter. KBC Group NV lifted its holdings in Arrowhead Pharmaceuticals by 45.9% in the 4th quarter. KBC Group NV now owns 5,224 shares of the biotechnology company's stock valued at $98,000 after purchasing an additional 1,644 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at about $190,000. Finally, First Citizens Bank & Trust Co. purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at about $205,000. 62.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Christopher Richard Anzalone sold 133,333 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $17.02, for a total transaction of $2,269,327.66. Following the completion of the transaction, the chief executive officer now directly owns 3,773,802 shares in the company, valued at $64,230,110.04. This represents a 3.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 275,880 shares of company stock valued at $4,034,037. Company insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

ARWR has been the topic of a number of recent research reports. Chardan Capital restated a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. Finally, B. Riley reiterated a "buy" rating and set a $38.00 price objective (down from $51.00) on shares of Arrowhead Pharmaceuticals in a 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, the company presently has an average rating of "Hold" and an average target price of $41.44.

Arrowhead Pharmaceuticals Trading Down 1.8%

Shares of Arrowhead Pharmaceuticals stock traded down $0.24 during trading on Friday, hitting $13.01. The stock had a trading volume of 1,252,999 shares, compared to its average volume of 1,459,447. The stock has a 50 day simple moving average of $13.44 and a 200 day simple moving average of $17.95. The company has a market capitalization of $1.79 billion, a PE ratio of -2.52 and a beta of 0.89. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $9.57 and a 1 year high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.97). On average, research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Arrowhead Pharmaceuticals Company 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.