CenterBook Partners LP Has $852,000 Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

CenterBook Partners LP lessened its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 80.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,913 shares of the biotechnology company's stock after selling 283,560 shares during the quarter. CenterBook Partners LP's holdings in Arrowhead Pharmaceuticals were worth $852,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in Arrowhead Pharmaceuticals by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company's stock worth $19,133,000 after acquiring an additional 10,785 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $651,000. Swiss National Bank grew its holdings in shares of Arrowhead Pharmaceuticals by 0.8% during the fourth 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 during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter valued at $190,000. Finally, Cibc World Markets Corp purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $210,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR traded down $2.07 during trading hours on Monday, reaching $14.69. 4,841,528 shares of the stock traded hands, compared to its average volume of 1,874,159. The stock has a 50 day simple moving average of $16.34 and a two-hundred day simple moving average of $16.30. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $9.57 and a 1 year high of $29.86. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -10.49, 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 (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $2.81. The business had revenue of $542.71 million for the quarter, compared to analysts' expectations of $116.27 million. During the same quarter last year, the business posted ($1.02) earnings per share. On average, analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Citigroup lowered their price target on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Chardan Capital reaffirmed a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Finally, Wall Street Zen downgraded Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.71.

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.