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

Bank of New York Mellon Corp reduced its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 0.57% of Arrowhead Pharmaceuticals worth $9,887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Xponance Inc. boosted its position in Arrowhead Pharmaceuticals by 4.5% in the 4th quarter. Xponance Inc. now owns 17,400 shares of the biotechnology company's stock worth $327,000 after purchasing an additional 744 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Arrowhead Pharmaceuticals by 2.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 37,994 shares of the biotechnology company's stock valued at $714,000 after buying an additional 803 shares in the last quarter. ADAR1 Capital Management LLC lifted its position in shares of Arrowhead Pharmaceuticals by 10.2% during the 4th quarter. ADAR1 Capital Management LLC now owns 12,900 shares of the biotechnology company's stock valued at $243,000 after buying an additional 1,195 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Arrowhead Pharmaceuticals by 297.6% during the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock valued at $28,000 after buying an additional 1,628 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Arrowhead Pharmaceuticals by 0.8% during the 4th quarter. Swiss National Bank now owns 220,000 shares of the biotechnology company's stock valued at $4,136,000 after buying an additional 1,700 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ARWR. Citigroup cut their price objective on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen cut Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday. Chardan Capital restated a "buy" rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. Finally, HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.71.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $14.71 on Tuesday. The stock's 50-day moving average is $16.34 and its 200-day moving average is $16.30. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -10.51, a price-to-earnings-growth ratio of 19.71 and a beta of 0.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.15 and a quick ratio of 5.15. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $9.57 and a 12 month high of $29.86.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Monday, May 12th. The biotechnology company reported $2.75 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 analysts' expectations of $116.27 million. During the same quarter in the previous year, the business posted ($1.02) earnings per share. Equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Arrowhead Pharmaceuticals 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.

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