Elevation Point Wealth Partners LLC Invests $1.39 Million in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Elevation Point Wealth Partners initiated a $1.39 million position in Arrowhead Pharmaceuticals, buying 16,991 shares during the second quarter. Institutional investors collectively own 62.61% of the company.
• Arrowhead reported quarterly revenue of $75.25 million, up 171% year over year and above expectations, but its $1.36 per-share loss exceeded analyst estimates. The stock opened at $87.11, near its 52-week high of $95.49.
• Analysts maintain a generally positive outlook, with nine Buy, three Hold, and one Sell rating and a consensus price target of $97.33. Meanwhile, two directors recently sold shares worth a combined $1.19 million.

Elevation Point Wealth Partners LLC purchased a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,991 shares of the biotechnology company's stock, valued at approximately $1,385,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tsfg LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $25,000. Optiver Holding B.V. lifted its stake in shares of Arrowhead Pharmaceuticals by 83.8% in the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company's stock worth $26,000 after acquiring an additional 186 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Arrowhead Pharmaceuticals by 285.1% in the second quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 248 shares during the last quarter. Carolina Wealth Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 80.6% in the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 154 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $87.11 on Monday. The firm has a fifty day moving average of $82.84 and a 200-day moving average of $72.87. The company has a market cap of $12.27 billion, a price-to-earnings ratio of -38.72 and a beta of 1.27. The company has a debt-to-equity ratio of 1.77, a quick ratio of 5.90 and a current ratio of 5.90. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $20.44 and a 1 year high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.13). The firm had revenue of $75.25 million during the quarter, compared to analyst estimates of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The firm's revenue was up 171.0% on a year-over-year basis. During the same period last year, the business earned ($1.26) EPS. As a group, equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.51 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the sale, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. This trade represents a 9.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Adeoye Y. Olukotun sold 2,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the sale, the director directly owned 31,600 shares in the company, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ARWR. Morgan Stanley raised their price target on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Chardan Capital raised their price objective on shares of Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Sanford C. Bernstein upped their target price on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a "market perform" rating in a research note on Wednesday, May 13th. Stifel Nicolaus started coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They set a "buy" rating and a $98.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $97.33.

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.

Want to see what other hedge funds are holding ARWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source