Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 57.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,701 shares of the biotechnology company's stock after selling 30,312 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Arrowhead Pharmaceuticals were worth $289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Avoro Capital Advisors LLC grew its holdings in Arrowhead Pharmaceuticals by 25.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company's stock valued at $208,889,000 after buying an additional 2,222,223 shares during the period. Slate Path Capital LP grew its holdings in shares of Arrowhead Pharmaceuticals by 7.1% during the 4th quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company's stock worth $98,362,000 after purchasing an additional 347,000 shares during the period. Norges Bank acquired a new position in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $38,622,000. Northern Trust Corp lifted its position in Arrowhead Pharmaceuticals by 11.4% during the 4th quarter. Northern Trust Corp now owns 1,484,419 shares of the biotechnology company's stock worth $27,907,000 after acquiring an additional 151,654 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Arrowhead Pharmaceuticals by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company's stock worth $19,133,000 after acquiring an additional 10,785 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Stock Up 1.2%

Shares of ARWR traded up $0.19 during trading on Monday, reaching $15.51. The company's stock had a trading volume of 1,544,073 shares, compared to its average volume of 1,536,574. The company has a fifty day moving average of $14.74 and a two-hundred day moving average of $16.75. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $9.57 and a twelve month high of $30.41. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -11.08, a P/E/G ratio of 18.02 and a beta of 0.96. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.31.

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

Wall Street Analysts Forecast Growth

ARWR has been the topic of several recent research reports. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. Citigroup reduced their price target on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen raised Arrowhead Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Chardan Capital reissued a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.

Insider Activity at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 50,800 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $11.49, for a total transaction of $583,692.00. Following the sale, the chief executive officer now directly owns 3,921,255 shares of the company's stock, valued at approximately $45,055,219.95. This represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.30% of the company's stock.

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.