Elevation Point Wealth Partners LLC Buys Shares of 11,977 Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Elevation Point Wealth Partners opened a new position in Arrowhead Pharmaceuticals in Q1, buying 11,977 shares valued at about $751,000.
• Institutional interest in ARWR remains strong, with several large investors making big moves and 62.61% of the stock now owned by institutions and hedge funds.
• Arrowhead’s stock is trading near its 52-week high after reporting a smaller-than-expected quarterly loss, while analysts maintain a Moderate Buy consensus with an average price target of $87.27.

Elevation Point Wealth Partners LLC purchased a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,977 shares of the biotechnology company's stock, valued at approximately $751,000.

A number of other large investors also recently modified their holdings of ARWR. Arrowstreet Capital Limited Partnership lifted its holdings in Arrowhead Pharmaceuticals by 3,142.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company's stock worth $71,797,000 after purchasing an additional 2,017,489 shares during the period. Norges Bank acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $113,159,000. Fred Alger Management LLC raised its holdings in Arrowhead Pharmaceuticals by 497.4% during the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company's stock worth $121,693,000 after purchasing an additional 1,526,164 shares in the last quarter. Deerfield Management Company L.P. bought a new stake in Arrowhead Pharmaceuticals during the third quarter worth approximately $34,249,000. Finally, Vestal Point Capital LP acquired a new stake in Arrowhead Pharmaceuticals in the fourth quarter worth approximately $59,751,000. 62.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Daniel Joseph Apel sold 13,095 shares of the company's stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total transaction of $934,328.25. Following the transaction, the chief financial officer directly owned 162,905 shares of the company's stock, valued at approximately $11,623,271.75. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Hongbo Lu sold 2,970 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total transaction of $228,333.60. Following the completion of the sale, the director directly owned 52,012 shares of the company's stock, valued at $3,998,682.56. This trade represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,065 shares of company stock worth $1,912,662 over the last quarter. Corporate insiders own 3.60% of the company's stock.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $86.97 on Wednesday. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $14.30 and a 1 year high of $87.83. The company has a market cap of $12.25 billion, a PE ratio of -40.45 and a beta of 1.26. The stock's 50-day moving average price is $77.27 and its two-hundred day moving average price is $69.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The business had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. During the same period last year, the firm posted $2.75 earnings per share. The firm's quarterly revenue was down 86.4% compared to the same quarter last year. On average, analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley raised Arrowhead Pharmaceuticals from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $78.00 to $100.00 in a research note on Tuesday, April 21st. Weiss Ratings lowered Arrowhead Pharmaceuticals from a "hold (c-)" rating to a "sell (d-)" rating in a report on Wednesday, May 20th. Chardan Capital reaffirmed a "buy" rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, June 30th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 1st. Finally, Sanford C. Bernstein boosted their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $87.27.

Arrowhead Pharmaceuticals 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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