Neo Ivy Capital Management Acquires Shares of 16,920 Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Neo Ivy Capital Management purchased a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,920 shares of the biotechnology company's stock, valued at approximately $318,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Xponance Inc. increased its stake in Arrowhead Pharmaceuticals by 4.5% during the fourth quarter. Xponance Inc. now owns 17,400 shares of the biotechnology company's stock worth $327,000 after acquiring an additional 744 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Arrowhead Pharmaceuticals by 2.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 37,994 shares of the biotechnology company's stock worth $714,000 after acquiring an additional 803 shares during the last quarter. ADAR1 Capital Management LLC increased its stake in Arrowhead Pharmaceuticals by 10.2% during the fourth quarter. ADAR1 Capital Management LLC now owns 12,900 shares of the biotechnology company's stock worth $243,000 after acquiring an additional 1,195 shares during the last quarter. Van ECK Associates Corp increased its stake in Arrowhead Pharmaceuticals by 72.3% during the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company's stock worth $56,000 after acquiring an additional 1,250 shares during the last quarter. Finally, KBC Group NV increased its stake in Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company's stock worth $98,000 after acquiring an additional 1,644 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company's stock.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, CEO Christopher Richard Anzalone sold 133,333 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total transaction of $2,269,327.66. Following the completion of the sale, the chief executive officer now directly owns 3,773,802 shares in the company, valued at $64,230,110.04. This represents a 3.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 275,880 shares of company stock worth $4,034,037. Insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARWR. Citigroup lowered their price target on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Chardan Capital reiterated a "buy" rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. Royal Bank of Canada restated an "outperform" rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.13.

Arrowhead Pharmaceuticals Price Performance

ARWR stock traded up $1.49 on Thursday, reaching $17.05. The company had a trading volume of 1,141,130 shares, compared to its average volume of 1,506,074. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $9.57 and a 1 year high of $30.41. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09. The company's fifty day moving average is $13.34 and its 200 day moving average is $17.53. The company has a market cap of $2.35 billion, a P/E ratio of -3.32 and a beta of 0.89.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $2.81. The business had revenue of $542.71 million during the quarter, compared to analyst estimates of $116.27 million. During the same quarter last year, the firm posted ($1.02) earnings per share. On average, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

About Arrowhead Pharmaceuticals

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.