Bank of New York Mellon Corp Makes New $70.06 Million Investment in Arrowhead Pharmaceuticals, Inc. $ARWR

Bank of New York Mellon Corp acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 859,538 shares of the biotechnology company's stock, valued at approximately $70,061,000. Bank of New York Mellon Corp owned about 0.61% of Arrowhead Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. State of Wyoming purchased a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at $340,000. Carolina Wealth Advisors LLC raised its stake in shares of Arrowhead Pharmaceuticals by 80.6% in the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 154 shares during the period. Allied Private Wealth LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 2nd quarter worth about $43,000. Assenagon Asset Management S.A. lifted its holdings in shares of Arrowhead Pharmaceuticals by 243.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 201,927 shares of the biotechnology company's stock worth $16,459,000 after acquiring an additional 143,192 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 15.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,879 shares of the biotechnology company's stock worth $316,000 after purchasing an additional 532 shares during the period. 62.61% of the stock is owned by institutional investors.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock opened at $88.88 on Wednesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90. The company has a market capitalization of $12.52 billion, a P/E ratio of -39.50 and a beta of 1.27. The company's 50-day simple moving average is $83.28 and its two-hundred day simple moving average is $73.12. Arrowhead Pharmaceuticals, Inc. has a one year low of $20.59 and a one year high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The company had revenue of $75.25 million for the quarter, compared to analysts' expectations of $44.17 million. During the same period last year, the business posted ($1.26) earnings per share. The business's revenue was up 171.0% compared to the same quarter last year. As a group, equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ARWR. Morgan Stanley increased their price objective on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Sanford C. Bernstein raised their price objective on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 13th. Stifel Nicolaus initiated coverage on Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They set a "buy" rating and a $98.00 target price for the company. Piper Sandler reaffirmed an "overweight" rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. increased their price target on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Nine analysts have rated the stock with 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.33.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, 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 directly owned 31,600 shares in the company, valued at approximately $2,747,936. This represents a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael S. 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 value of $1,012,680.00. Following the transaction, the director directly owned 111,459 shares in the company, valued at $9,730,370.70. The trade was a 9.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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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