GAMMA Investing LLC grew its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 4,965.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,710 shares of the biotechnology company's stock after buying an additional 27,163 shares during the period. GAMMA Investing LLC's holdings in Arrowhead Pharmaceuticals were worth $3,530,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in ARWR. GF Fund Management CO. LTD. acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $49,000. Van ECK Associates Corp lifted its holdings in shares of Arrowhead Pharmaceuticals by 72.3% during the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company's stock valued at $56,000 after acquiring an additional 1,250 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $137,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $190,000. Finally, Cibc World Markets Corp acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $210,000. 62.61% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on ARWR. Citigroup reduced their target price on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Chardan Capital reiterated a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.71.
Check Out Our Latest Stock Report on Arrowhead Pharmaceuticals
Insider Activity
In related news, CEO Christopher Richard Anzalone sold 40,322 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $10.07, for a total transaction of $406,042.54. Following the sale, the chief executive officer now owns 4,022,055 shares in the company, valued at $40,502,093.85. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.30% of the company's stock.
Arrowhead Pharmaceuticals Stock Down 3.0%
ARWR stock traded down $0.48 during trading on Friday, reaching $15.74. The stock had a trading volume of 1,219,107 shares, compared to its average volume of 1,531,912. The company has a market capitalization of $2.17 billion, a P/E ratio of -3.04 and a beta of 0.96. The firm has a fifty day moving average price of $14.25 and a 200 day moving average price of $17.19. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $30.41.
Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $2.81. The company had revenue of $542.71 million during the quarter, compared to analyst estimates of $116.27 million. During the same quarter last year, the company posted ($1.02) EPS. On average, equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.
About Arrowhead Pharmaceuticals
(
Free Report)
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.
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