Algert Global LLC lessened its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 36.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 38,340 shares of the biotechnology company's stock after selling 21,680 shares during the period. Algert Global LLC's holdings in Arrowhead Pharmaceuticals were worth $3,125,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Carolina Wealth Advisors LLC raised its position in shares of Arrowhead Pharmaceuticals by 80.6% during the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company's stock valued at $28,000 after buying an additional 154 shares during the last quarter. First Horizon Corp grew its stake in Arrowhead Pharmaceuticals by 36.2% during the first quarter. First Horizon Corp now owns 654 shares of the biotechnology company's stock valued at $41,000 after acquiring an additional 174 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Arrowhead Pharmaceuticals by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company's stock worth $737,000 after purchasing an additional 178 shares during the last quarter. Optiver Holding B.V. raised its holdings in shares of Arrowhead Pharmaceuticals by 83.8% during the 1st quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company's stock worth $26,000 after acquiring an additional 186 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Arrowhead Pharmaceuticals by 285.1% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company's stock worth $27,000 after acquiring an additional 248 shares in the last quarter. 62.61% of the stock is owned by institutional investors.
Arrowhead Pharmaceuticals Stock Down 4.2%
NASDAQ:ARWR opened at $84.91 on Friday. The company has a market cap of $11.96 billion, a price-to-earnings ratio of -37.74 and a beta of 1.27. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $21.61 and a twelve month high of $95.49. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. The stock has a fifty day simple moving average of $83.64 and a 200-day simple moving average of $73.54.
Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The company had revenue of $75.25 million during the quarter, compared to analysts' expectations of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The company's quarterly revenue was up 171.0% on a year-over-year basis. During the same period in the prior year, the business earned ($1.26) EPS. Analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on ARWR shares. Piper Sandler reaffirmed an "overweight" rating and set a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Leerink Partners boosted their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a "market perform" rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. upped their target price on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. HC Wainwright increased their price target on shares of Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Morgan Stanley raised their price objective on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $97.33.
Read Our Latest Report on ARWR
Insider Buying and Selling
In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the completion of the sale, the director directly owned 111,459 shares of the company's stock, valued at $9,730,370.70. The trade was a 9.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the sale, the director owned 31,600 shares of the company's stock, valued at $2,747,936. This represents a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.60% of the stock is currently owned by insiders.
About Arrowhead Pharmaceuticals
(
Free Report)
Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company's approach aims to offer durable, targeted treatments across a range of therapeutic areas.
The company's pipeline includes multiple candidates in various stages of development.
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