Arrowhead Pharmaceuticals, Inc. $ARWR Stake Cut by Pinion Investment Advisors LLC

Key Points

• Pinion Investment Advisors cut its Arrowhead Pharmaceuticals stake by 66.7% in the third quarter, selling 50,000 shares and retaining 25,000 shares valued at about $1.64 million.
• Other institutional investors made mixed moves, including several increases and new positions; institutions collectively owned 62.61% of the company’s stock.
• Analysts’ consensus rating was Moderate Buy, with a $99.07 average price target, while ARWR opened at $49.24 after a reported 15.3% decline.

Pinion Investment Advisors LLC decreased its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 66.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 25,000 shares of the biotechnology company's stock after selling 50,000 shares during the period. Pinion Investment Advisors LLC's holdings in Arrowhead Pharmaceuticals were worth $1,636,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ARWR. Assenagon Asset Management S.A. increased its holdings in Arrowhead Pharmaceuticals by 243.8% during the second quarter. Assenagon Asset Management S.A. now owns 201,927 shares of the biotechnology company's stock valued at $16,459,000 after buying an additional 143,192 shares during the period. Corient Private Wealth LP bought a new position in Arrowhead Pharmaceuticals in the second quarter worth approximately $1,313,000. Squarepoint Ops LLC bought a new position in Arrowhead Pharmaceuticals in the second quarter worth approximately $20,859,000. Siren L.L.C. raised its stake in Arrowhead Pharmaceuticals by 7.7% in the first quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company's stock worth $101,290,000 after buying an additional 115,000 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in Arrowhead Pharmaceuticals by 661.6% in the first quarter. Empowered Funds LLC now owns 137,220 shares of the biotechnology company's stock worth $8,604,000 after buying an additional 119,202 shares in the last quarter. Institutional investors own 62.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stifel Nicolaus started coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a "buy" rating and a $98.00 target price for the company. Citigroup assumed coverage on Arrowhead Pharmaceuticals in a report on Tuesday, September 8th. They issued a "buy" rating and a $108.00 price target on the stock. Piper Sandler reissued an "overweight" rating and issued a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. JPMorgan Chase & Co. upped their price objective on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Finally, B. Riley Financial upped their price objective on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $99.07.

Insider Activity at Arrowhead Pharmaceuticals

In other news, Director Michael Perry sold 11,600 shares of the 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 owned 111,459 shares in the company, valued at approximately $9,730,370.70. This represents a 9.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Adeoye Olukotun sold 2,000 shares of the firm'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 directly owned 31,600 shares of the company's stock, valued at $2,747,936. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 3.60% of the stock is owned by company insiders.

Arrowhead Pharmaceuticals Trading Down 15.3%

NASDAQ ARWR opened at $49.24 on Tuesday. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. The firm has a market cap of $6.94 billion, a PE ratio of -21.88 and a beta of 1.34. The company has a 50 day moving average price of $66.19 and a 200 day moving average price of $71.39. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $37.06 and a 52 week high of $95.49.

Arrowhead Pharmaceuticals Profile

Arrowhead Pharmaceuticals is a biotechnology company that develops medicines using RNA interference (RNAi), a biological process that can reduce the production of specific proteins by silencing the genes that encode them. Its proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi treatments to targeted tissues.

The company's research and development programs address a range of conditions, including liver, cardiometabolic, pulmonary and neurological diseases. Its work centers on investigational medicines and drug-development partnerships.

Founded in 1989 as Arrowhead Research Corporation, the company adopted the name Arrowhead Pharmaceuticals in 2015.

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