Bank of New York Mellon Corp Sells 54,019 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Bank of New York Mellon Corp lessened its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 776,039 shares of the biotechnology company's stock after selling 54,019 shares during the quarter. Bank of New York Mellon Corp owned about 0.57% of Arrowhead Pharmaceuticals worth $9,887,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Avoro Capital Advisors LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 25.0% during 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 acquiring an additional 2,222,223 shares during the last quarter. Slate Path Capital LP boosted its holdings in shares of Arrowhead Pharmaceuticals by 7.1% in the fourth quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company's stock worth $98,362,000 after buying an additional 347,000 shares during the last quarter. Norges Bank purchased a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth approximately $38,622,000. Northern Trust Corp boosted its holdings in shares of Arrowhead Pharmaceuticals by 11.4% in the fourth quarter. Northern Trust Corp now owns 1,484,419 shares of the biotechnology company's stock worth $27,907,000 after buying an additional 151,654 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 41.7% in the fourth quarter. Millennium Management LLC now owns 914,550 shares of the biotechnology company's stock worth $17,194,000 after buying an additional 268,946 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ARWR shares. Wall Street Zen downgraded shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, July 18th. HC Wainwright reissued a "buy" rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Citigroup dropped their price objective on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Chardan Capital reissued a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.71.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR traded down $0.52 on Friday, reaching $15.74. 1,763,918 shares of the stock were exchanged, compared to its average volume of 2,024,831. Arrowhead Pharmaceuticals, Inc. has a one year low of $9.57 and a one year high of $29.59. The firm has a market capitalization of $2.17 billion, a PE ratio of -11.24, a PEG ratio of 19.12 and a beta of 0.93. The company's 50-day simple moving average is $16.39 and its two-hundred day simple moving average is $16.23. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.31.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings data 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 company had revenue of $542.71 million for the quarter, compared to the consensus estimate of $116.27 million. During the same quarter in the previous year, the business earned ($1.02) EPS. Analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

About Arrowhead Pharmaceuticals

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.