Kornitzer Capital Management Inc. KS Makes New $2.38 Million Investment in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Kornitzer Capital Management established a new position in Arrowhead Pharmaceuticals, buying 35,780 shares worth approximately $2.38 million in the fourth quarter.
• Institutional ownership is high (about 62.61%) with major funds like Vanguard, Avoro, Arrowstreet, Goldman and Baker Bros. increasing stakes, and analysts hold a consensus "Moderate Buy" rating with an average price target of $84.20 (some targets up to $101).
• Arrowhead has a market cap of about $10.5 billion and its stock traded near a 52‑week high recently; last quarter revenue of $264M beat estimates while EPS of $0.22 missed, and insiders sold roughly 33,095 shares over the quarter.

Kornitzer Capital Management Inc. KS bought a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,780 shares of the biotechnology company's stock, valued at approximately $2,375,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company's stock worth $553,077,000 after acquiring an additional 510,798 shares during the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 2.8% in the third quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company's stock worth $375,941,000 after acquiring an additional 300,000 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Arrowhead Pharmaceuticals by 3,142.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company's stock worth $71,797,000 after acquiring an additional 2,017,489 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 34.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company's stock worth $22,189,000 after acquiring an additional 447,456 shares during the last quarter. Finally, Baker BROS. Advisors LP raised its holdings in shares of Arrowhead Pharmaceuticals by 77.9% in the third quarter. Baker BROS. Advisors LP now owns 1,670,762 shares of the biotechnology company's stock worth $57,625,000 after acquiring an additional 731,588 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. HC Wainwright reissued a "buy" rating and issued a $100.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, March 25th. Chardan Capital boosted their price target on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, January 7th. B. Riley Financial boosted their price target on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Weiss Ratings raised Arrowhead Pharmaceuticals from a "sell (d-)" rating to a "hold (c-)" rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. assumed coverage on Arrowhead Pharmaceuticals in a report on Friday. They issued an "overweight" rating and a $88.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $84.20.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $74.81 on Friday. The firm has a market capitalization of $10.48 billion, a P/E ratio of 48.90 and a beta of 1.28. The stock has a fifty day moving average price of $63.47 and a 200 day moving average price of $59.36. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $12.44 and a 52 week high of $76.76. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.38). The business had revenue of $264.03 million during the quarter, compared to analyst estimates of $225.66 million. Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The business's revenue for the quarter was up 10461.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.39) earnings per share. Equities research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.37 earnings per share for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 10,000 shares of the company's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the sale, the insider directly owned 226,958 shares in the company, valued at $17,021,850. This represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the company's stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total value of $934,328.25. Following the sale, the chief financial officer owned 162,905 shares of the company's stock, valued at approximately $11,623,271.75. The trade was a 7.44% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 33,095 shares of company stock valued at $2,326,228 over the last quarter. Insiders own 3.60% of the company's stock.

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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