Arrowhead Pharmaceuticals, Inc. $ARWR Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its holdings in Arrowhead Pharmaceuticals by 9.0%, owning approximately 0.25% of the company after selling 34,365 shares.
• Multiple institutional investors have increased their positions, with notable growth by Focus Partners Wealth at 1,339.5% and Goldman Sachs Group Inc. at 34.6%.
• Arrowhead Pharmaceuticals reported a larger-than-expected EPS loss of ($1.26) for the last quarter, missing analyst estimates of ($0.94), alongside a revenue of $27.77 million.

Rhumbline Advisers lowered its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 345,979 shares of the biotechnology company's stock after selling 34,365 shares during the period. Rhumbline Advisers owned approximately 0.25% of Arrowhead Pharmaceuticals worth $4,408,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Focus Partners Wealth grew its holdings in Arrowhead Pharmaceuticals by 1,339.5% during the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company's stock valued at $207,000 after purchasing an additional 15,123 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Arrowhead Pharmaceuticals by 138.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company's stock valued at $60,962,000 after purchasing an additional 2,774,933 shares in the last quarter. Empowered Funds LLC grew its holdings in Arrowhead Pharmaceuticals by 6.9% during the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company's stock valued at $194,000 after purchasing an additional 979 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company's stock valued at $22,189,000 after purchasing an additional 447,456 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its holdings in Arrowhead Pharmaceuticals by 40.9% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 26,969 shares of the biotechnology company's stock valued at $343,000 after purchasing an additional 7,827 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ARWR shares. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 2nd. TD Cowen raised shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, July 28th. Chardan Capital reissued a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. Royal Bank Of Canada decreased their price objective on shares of Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, B. Riley raised shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $43.14.

Insiders Place Their Bets

In related news, insider James C. Hamilton sold 15,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $25.00, for a total value of $375,000.00. Following the sale, the insider directly owned 247,122 shares in the company, valued at $6,178,050. This trade represents a 5.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 25,000 shares of company stock valued at $575,000. Company insiders own 4.30% of the company's stock.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $29.72 on Monday. The firm's 50-day moving average is $19.99 and its 200-day moving average is $16.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.87 and a current ratio of 4.87. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $9.57 and a 1 year high of $31.13. The company has a market cap of $4.11 billion, a P/E ratio of -23.22 and a beta of 1.00.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.32). The firm had revenue of $27.77 million for the quarter, compared to the consensus estimate of $29.01 million. During the same quarter in the prior year, the firm posted ($1.38) EPS. On average, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

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.

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