Assenagon Asset Management S.A. Has $3.68 Million Stock Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Assenagon Asset Management sharply cut its Arrowhead Pharmaceuticals stake by 91.4% in the first quarter, selling 626,154 shares and leaving it with 58,735 shares worth about $3.68 million.
• Arrowhead Pharmaceuticals reported quarterly EPS of -$0.93, beating estimates, while revenue came in at $73.74 million, slightly below expectations and down 86.4% year over year.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and an average price target of $86.36, even as some firms trimmed or downgraded their views.

Assenagon Asset Management S.A. lessened its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 91.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,735 shares of the biotechnology company's stock after selling 626,154 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Arrowhead Pharmaceuticals were worth $3,683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARWR. Tsfg LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $25,000. First Horizon Corp acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $32,000. WPG Advisers LLC increased its stake in Arrowhead Pharmaceuticals by 384.8% during the 4th quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 431 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Arrowhead Pharmaceuticals by 177.1% during the 4th quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company's stock worth $49,000 after purchasing an additional 471 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $54,000. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Stock Up 2.0%

Arrowhead Pharmaceuticals stock opened at $80.50 on Tuesday. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $14.30 and a 1-year high of $84.55. The company has a fifty day simple moving average of $75.85 and a 200 day simple moving average of $68.42. The company has a market cap of $11.34 billion, a P/E ratio of -37.44 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. The firm had revenue of $73.74 million for the quarter, compared to analysts' expectations of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The company's revenue for the quarter was down 86.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 EPS. Research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ARWR. JPMorgan Chase & Co. assumed coverage on shares of Arrowhead Pharmaceuticals in a research note on Friday, May 1st. They issued an "overweight" rating and a $88.00 price target on the stock. Leerink Partners raised their price objective 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. Weiss Ratings cut shares of Arrowhead Pharmaceuticals from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Wednesday, May 20th. Royal Bank Of Canada upped their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $86.36.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total transaction of $228,333.60. Following the transaction, the director owned 52,012 shares of the company's stock, valued at $3,998,682.56. The trade was a 5.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James C. Hamilton sold 10,000 shares of the firm's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the transaction, the insider directly owned 226,958 shares of the company's stock, valued at $17,021,850. This represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 26,065 shares of company stock worth $1,912,662. Corporate insiders own 3.60% of the company's stock.

Arrowhead Pharmaceuticals Company Profile

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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