Northern Trust Corp Sells 273,606 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Northern Trust Corp reduced its stake in Arrowhead Pharmaceuticals by 18.4%, selling 273,606 shares in the first quarter, leaving it with a total of 1,210,813 shares valued at approximately $15.4 million.
• Insider James C. Hamilton sold 9,389 shares at an average price of $20.00, decreasing his ownership by 3.46%, and now owns approximately 262,122 shares worth about $5.24 million.
• Analysts have mixed ratings on the stock, with two giving it a Strong Buy, five a Buy, and two a Hold, while the consensus target price is $43.14.

Northern Trust Corp decreased its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 18.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,210,813 shares of the biotechnology company's stock after selling 273,606 shares during the quarter. Northern Trust Corp owned about 0.88% of Arrowhead Pharmaceuticals worth $15,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARWR. Oak Ridge Investments LLC lifted its position in Arrowhead Pharmaceuticals by 2.5% in the first quarter. Oak Ridge Investments LLC now owns 33,734 shares of the biotechnology company's stock worth $430,000 after buying an additional 823 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Arrowhead Pharmaceuticals by 9.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,476 shares of the biotechnology company's stock valued at $184,000 after acquiring an additional 1,195 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Arrowhead Pharmaceuticals by 297.6% in the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 1,628 shares during the period. Captrust Financial Advisors raised its stake in shares of Arrowhead Pharmaceuticals by 13.5% in the fourth quarter. Captrust Financial Advisors now owns 17,074 shares of the biotechnology company's stock valued at $321,000 after acquiring an additional 2,035 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Arrowhead Pharmaceuticals by 40.8% in the 1st quarter. KBC Group NV now owns 7,356 shares of the biotechnology company's stock worth $94,000 after acquiring an additional 2,132 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company's stock.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 9,389 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $20.00, for a total transaction of $187,780.00. Following the transaction, the insider owned 262,122 shares of the company's stock, valued at approximately $5,242,440. This represents a 3.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ARWR shares. Royal Bank Of Canada cut their price target on shares of Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wall Street Zen lowered Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Chardan Capital reaffirmed a "buy" rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 11th. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. Finally, TD Cowen upgraded Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $43.14.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $25.68 on Wednesday. The firm's 50 day simple moving average is $18.03 and its 200-day simple moving average is $16.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.87 and a current ratio of 4.87. Arrowhead Pharmaceuticals, Inc. has a one year low of $9.57 and a one year high of $27.34. The firm has a market cap of $3.55 billion, a PE ratio of -20.06 and a beta of 1.00.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.32). The company had revenue of $27.77 million during the quarter, compared to analysts' expectations of $29.01 million. During the same period last year, the firm earned ($1.38) EPS. As a group, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS 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.

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