California State Teachers Retirement System Buys 11,252,904 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• California State Teachers Retirement System increased its Arrowhead Pharmaceuticals stake by 7,797.6%, purchasing 11.25 million additional shares to own 11.4 million shares, or approximately 8.09% of the company. Institutional investors collectively hold 62.61% of ARWR.
• Arrowhead reported quarterly revenue of $75.25 million, up 171% year over year and above estimates, but its loss of $1.36 per share missed expectations. The stock opened at $82.85, with a market capitalization of approximately $11.67 billion.
• Analysts maintain a “Moderate Buy” consensus, with 10 Buy, three Hold and one Sell rating and an average price target of $99.15. Recent firms raised targets as high as $126, although two directors sold shares in August.

California State Teachers Retirement System increased its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 7,797.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,397,217 shares of the biotechnology company's stock after purchasing an additional 11,252,904 shares during the period. California State Teachers Retirement System owned approximately 8.09% of Arrowhead Pharmaceuticals worth $928,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in shares of Arrowhead Pharmaceuticals by 243.8% during 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 in the last quarter. Siren L.L.C. raised its position in Arrowhead Pharmaceuticals by 7.7% in the first quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company's stock valued at $101,290,000 after purchasing an additional 115,000 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $2,541,000. Empowered Funds LLC grew its holdings in Arrowhead Pharmaceuticals by 661.6% during the 1st quarter. Empowered Funds LLC now owns 137,220 shares of the biotechnology company's stock worth $8,604,000 after acquiring an additional 119,202 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Arrowhead Pharmaceuticals in the 1st quarter valued at approximately $751,000. Institutional investors and hedge funds own 62.61% of the company's stock.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director Adeoye Olukotun sold 2,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the transaction, the director owned 31,600 shares in the company, valued at approximately $2,747,936. The trade was a 5.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Perry sold 11,600 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 111,459 shares of the company's stock, valued at approximately $9,730,370.70. This trade represents a 9.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.60% of the company's stock.

Arrowhead Pharmaceuticals Trading Up 0.1%

NASDAQ ARWR opened at $82.85 on Friday. The company has a market cap of $11.67 billion, a price-to-earnings ratio of -36.82 and a beta of 1.28. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $28.12 and a 52 week high of $95.49. The business has a 50 day moving average price of $84.30 and a 200-day moving average price of $75.01. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The business had revenue of $75.25 million during the quarter, compared to analyst estimates of $44.17 million. During the same period in the previous year, the business posted ($1.26) EPS. The business's revenue for the quarter was up 171.0% compared to the same quarter last year. As a group, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ARWR shares. Morgan Stanley lifted their price target on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Piper Sandler restated an "overweight" rating and issued a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Wall Street Zen raised Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th. Chardan Capital reaffirmed a "buy" rating and set a $115.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 31st. Finally, JPMorgan Chase & Co. upped their price target on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.15.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc NASDAQ: ARWR is a biopharmaceutical company focused on developing medicines that silence disease-causing genes. The company uses RNA interference (RNAi), a biological process that reduces the production of specific proteins, to target conditions that may be difficult to treat with conventional drugs.

Arrowhead's proprietary TRiM platform is designed to deliver RNAi-based therapies to different tissues, including the liver, lungs and other organs. Its investigational pipeline has included candidates for cardiovascular and metabolic diseases, liver disorders, pulmonary conditions and inflammatory diseases.

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