Hsbc Holdings PLC Boosts Holdings in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• HSBC Holdings increased its Arrowhead Pharmaceuticals stake by 34.9% in the second quarter, adding 52,754 shares for a total of 203,800 shares valued at approximately $16.8 million.
• Institutional investors own 62.61% of Arrowhead’s stock, with Goldman Sachs and several other firms also increasing their positions during the period.
• Arrowhead reported quarterly revenue of $75.25 million, up 171% year over year but below-consensus earnings per share of negative $1.36. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $99.15.

Hsbc Holdings PLC boosted its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 34.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 203,800 shares of the biotechnology company's stock after buying an additional 52,754 shares during the quarter. Hsbc Holdings PLC owned approximately 0.14% of Arrowhead Pharmaceuticals worth $16,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Arrowhead Pharmaceuticals by 30.2% during the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company's stock worth $576,000 after acquiring an additional 10,496 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the 1st quarter worth $514,000. Goldman Sachs Group Inc. raised its holdings in Arrowhead Pharmaceuticals by 34.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company's stock worth $22,189,000 after purchasing an additional 447,456 shares during the period. Empowered Funds LLC raised its holdings in Arrowhead Pharmaceuticals by 6.9% in the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company's stock worth $194,000 after purchasing an additional 979 shares during the period. Finally, Focus Partners Wealth lifted its position in Arrowhead Pharmaceuticals by 1,339.5% during 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 in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR opened at $85.11 on Wednesday. The business's 50-day simple moving average is $84.30 and its two-hundred day simple moving average is $74.69. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $27.15 and a 52 week high of $95.49. The stock has a market cap of $11.99 billion, a PE ratio of -37.83 and a beta of 1.28. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77.

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 business had revenue of $75.25 million during the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The business's revenue was up 171.0% on a year-over-year basis. During the same period last year, the company earned ($1.26) EPS. As a group, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.62 EPS for the current fiscal year.

Analyst Ratings Changes

ARWR has been the subject of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. Morgan Stanley lifted their price objective on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Citigroup initiated coverage on Arrowhead Pharmaceuticals in a research note on Tuesday. They set a "buy" rating and a $108.00 price objective for the company. B. Riley Financial increased their target price on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Chardan Capital restated a "buy" rating and set a $115.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 31st. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $99.15.

Insider Buying and Selling

In other news, Director Michael S. Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the sale, the director owned 111,459 shares in the company, valued at $9,730,370.70. This trade represents a 9.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the completion of the transaction, the director directly owned 31,600 shares in the company, valued at $2,747,936. This trade represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 3.60% of the stock is currently owned by insiders.

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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