Entropy Technologies LP Reduces Stake in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Entropy Technologies LP reduced its Arrowhead Pharmaceuticals stake by 60.9% in the first quarter, selling 16,519 shares and retaining 10,620 shares valued at approximately $666,000.
• Institutional ownership remains significant at 62.61%, with Goldman Sachs, Royal Bank of Canada, and other funds increasing their positions during the quarter. An Arrowhead director also sold shares under a pre-arranged Rule 10b5-1 plan.
• Analysts maintain a Moderate Buy consensus, with an average price target of $95.08; several firms recently raised targets to between $115 and $126. The stock opened at $86.22, while quarterly revenue fell 86.4% year over year and the company reported a $0.93 per-share loss.

Entropy Technologies LP cut its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 60.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,620 shares of the biotechnology company's stock after selling 16,519 shares during the quarter. Entropy Technologies LP's holdings in Arrowhead Pharmaceuticals were worth $666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ARWR. Royal Bank of Canada boosted its holdings in shares of Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company's stock valued at $576,000 after acquiring an additional 10,496 shares during the last quarter. AQR Capital Management LLC acquired a new position in Arrowhead Pharmaceuticals during the first quarter valued at $514,000. Goldman Sachs Group Inc. lifted its position in Arrowhead Pharmaceuticals by 34.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company's stock valued at $22,189,000 after purchasing an additional 447,456 shares during the period. Empowered Funds LLC lifted its position in Arrowhead Pharmaceuticals by 6.9% during the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company's stock valued at $194,000 after purchasing an additional 979 shares during the period. Finally, Focus Partners Wealth boosted its holdings in Arrowhead Pharmaceuticals by 1,339.5% in the first quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company's stock valued at $207,000 after purchasing an additional 15,123 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, 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 transaction, the director owned 52,012 shares in the company, valued at approximately $3,998,682.56. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. HC Wainwright increased their price target on Arrowhead Pharmaceuticals from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Monday. Leerink Partners boosted their price objective on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a "market perform" rating in a report on Wednesday, June 17th. Morgan Stanley upped their target price on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Finally, Chardan Capital raised their target price on Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Nine investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $95.08.

Arrowhead Pharmaceuticals Stock Up 0.5%

ARWR stock opened at $86.22 on Thursday. Arrowhead Pharmaceuticals, Inc. has a one year low of $15.01 and a one year high of $95.49. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. The firm's fifty day moving average is $78.61 and its 200 day moving average is $70.41. The firm has a market cap of $12.14 billion, a PE ratio of -40.10 and a beta of 1.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $73.84 million. During the same quarter in the prior year, the firm posted $2.75 earnings per share. The company's revenue was down 86.4% compared to the same quarter last year. On average, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.08 EPS for the current year.

Arrowhead Pharmaceuticals Company 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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