Geode Capital Management LLC Increases Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Geode Capital Management increased its Arrowhead Pharmaceuticals stake by 4.3% in the fourth quarter, adding 133,921 shares to bring its total to 3.26 million shares valued at about $216.8 million.
• Arrowhead reported a smaller-than-expected quarterly loss of ($0.93) per share, but revenue still fell 86.4% year over year to $73.74 million. Analysts currently expect the company to post -2.98 EPS for the full year.
• Despite mixed sentiment, analysts remain generally constructive: the stock carries a Moderate Buy consensus with an average price target of $87.80, even as some firms raised or lowered ratings and targets.

Geode Capital Management LLC increased its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 4.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,264,963 shares of the biotechnology company's stock after acquiring an additional 133,921 shares during the period. Geode Capital Management LLC owned about 2.33% of Arrowhead Pharmaceuticals worth $216,799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC grew its position in Arrowhead Pharmaceuticals by 1.4% in the fourth quarter. CWM LLC now owns 12,347 shares of the biotechnology company's stock worth $820,000 after acquiring an additional 168 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Arrowhead Pharmaceuticals by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company's stock worth $737,000 after acquiring an additional 178 shares in the last quarter. HighTower Advisors LLC grew its position in Arrowhead Pharmaceuticals by 0.3% in the fourth quarter. HighTower Advisors LLC now owns 133,229 shares of the biotechnology company's stock worth $8,845,000 after acquiring an additional 340 shares in the last quarter. Tsfg LLC purchased a new position in Arrowhead Pharmaceuticals in the fourth quarter worth $25,000. Finally, Oregon Public Employees Retirement Fund grew its position in Arrowhead Pharmaceuticals by 1.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,614 shares of the biotechnology company's stock worth $2,099,000 after acquiring an additional 430 shares in the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR opened at $70.82 on Wednesday. The company has a 50-day simple moving average of $69.93 and a two-hundred day simple moving average of $64.81. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $14.30 and a 12-month high of $82.26. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of -32.94 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $73.84 million. During the same period in the prior year, the business posted $2.75 earnings per share. The company's revenue was down 86.4% on a year-over-year basis. On average, equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.98 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of Arrowhead Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, March 25th. Royal Bank Of Canada upped their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Sanford C. Bernstein upped their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Finally, Morgan Stanley upgraded shares of Arrowhead Pharmaceuticals from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $87.80.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, CFO Daniel Joseph Apel sold 13,095 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the sale, the chief financial officer directly owned 162,905 shares in the company, valued at approximately $11,623,271.75. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, insider James C. Hamilton sold 10,000 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the sale, the insider owned 226,958 shares of the company's stock, valued at approximately $17,021,850. This represents a 4.22% 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. Over the last ninety days, insiders sold 36,065 shares of company stock worth $2,554,562. Company insiders own 3.60% of the company's stock.

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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