Nuveen LLC Makes New Investment in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Nuveen LLC has acquired a new stake in Arrowhead Pharmaceuticals worth approximately $4.31 million, purchasing 337,878 shares, representing 0.25% ownership of the company.
• Arrowhead Pharmaceuticals reported a loss of ($1.26) EPS in its recent earnings results, missing expectations, with revenues of $27.77 million for the quarter.
• Several large investors, including Vanguard Group Inc. and Two Sigma Investments LP, have significantly increased their holdings in Arrowhead Pharmaceuticals, reflecting strong institutional interest in the company.

Nuveen LLC acquired a new stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 337,878 shares of the biotechnology company's stock, valued at approximately $4,305,000. Nuveen LLC owned approximately 0.25% of Arrowhead Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 13,202,562 shares of the biotechnology company's stock valued at $168,201,000 after purchasing an additional 1,018,273 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Arrowhead Pharmaceuticals by 11.4% during the 4th quarter. Northern Trust Corp now owns 1,484,419 shares of the biotechnology company's stock valued at $27,907,000 after purchasing an additional 151,654 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,035,290 shares of the biotechnology company's stock valued at $13,190,000 after purchasing an additional 17,570 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 41.7% during the 4th quarter. Millennium Management LLC now owns 914,550 shares of the biotechnology company's stock valued at $17,194,000 after purchasing an additional 268,946 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Arrowhead Pharmaceuticals by 281.3% during the 4th quarter. Two Sigma Investments LP now owns 794,373 shares of the biotechnology company's stock valued at $14,934,000 after purchasing an additional 586,062 shares in the last quarter. Institutional investors own 62.61% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ARWR. Citigroup dropped their target price on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. Chardan Capital reissued a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 11th. Royal Bank Of Canada dropped their target price on Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen lowered Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $43.14.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 9,389 shares of the business's stock in a transaction that occurred 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 directly owned 262,122 shares of the company's stock, valued at approximately $5,242,440. The trade was a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.30% of the company's stock.

Arrowhead Pharmaceuticals Stock Down 1.4%

Shares of NASDAQ:ARWR traded down $0.31 during trading on Friday, hitting $22.03. 2,388,669 shares of the company were exchanged, compared to its average volume of 2,433,496. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -17.21 and a beta of 0.94. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $27.34. The firm has a fifty day moving average price of $17.71 and a two-hundred day moving average price of $16.00. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.39.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share 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 analyst estimates of $29.01 million. During the same quarter in the previous year, the firm earned ($1.38) earnings per share. As a group, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal 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.