King Luther Capital Management Corp Sells 20,165 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• King Luther Capital Management cut its Arrowhead Pharmaceuticals stake by 25% in the fourth quarter, selling 20,165 shares and ending with 60,475 shares worth about $4.0 million.
• Recent insider selling also stood out: James C. Hamilton and CFO Daniel Joseph Apel sold shares, bringing insider sales over the past three months to 36,065 shares valued at about $2.55 million.
• Arrowhead reported a smaller-than-expected quarterly loss of ($0.93) per share, while analysts remain generally bullish with a Moderate Buy consensus and an average price target of $87.80.

King Luther Capital Management Corp lowered its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 25.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,475 shares of the biotechnology company's stock after selling 20,165 shares during the quarter. King Luther Capital Management Corp's holdings in Arrowhead Pharmaceuticals were worth $4,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Tsfg LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $25,000. iSAM Funds UK Ltd bought a new stake in shares of Arrowhead Pharmaceuticals during the third quarter valued at approximately $29,000. First Horizon Corp bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $32,000. WPG Advisers LLC boosted its position in shares of Arrowhead Pharmaceuticals by 384.8% during the fourth quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 431 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 177.1% during the fourth quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company's stock valued at $49,000 after purchasing an additional 471 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company's stock.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 10,000 shares of the firm's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $64.19, for a total transaction of $641,900.00. Following the sale, the insider owned 236,958 shares of the company's stock, valued at $15,210,334.02. This trade represents a 4.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Daniel Joseph Apel sold 13,095 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total value of $934,328.25. Following the transaction, the chief financial officer directly owned 162,905 shares in the company, valued at $11,623,271.75. The trade was a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last three months, insiders have sold 36,065 shares of company stock valued at $2,554,562. 3.60% of the stock is owned by corporate insiders.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $79.05 on Friday. Arrowhead Pharmaceuticals, Inc. has a one year low of $14.30 and a one year high of $82.26. The company's 50-day moving average is $69.14 and its 200 day moving average is $64.30. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of -36.77 and a beta of 1.28. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.17. The company had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. Arrowhead Pharmaceuticals's revenue for the quarter was down 86.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.75 EPS. Sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.98 EPS for the current fiscal year.

Analyst Ratings Changes

ARWR has been the subject of a number of recent research reports. HC Wainwright reissued a "buy" rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, March 25th. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. JPMorgan Chase & Co. initiated coverage on shares of Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an "overweight" rating and a $88.00 price target for the company. Weiss Ratings cut shares of Arrowhead Pharmaceuticals from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada raised their price objective on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.80.

About Arrowhead Pharmaceuticals

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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