Pinion Investment Advisors LLC Has $1.19 Million Stock Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Pinion Investment Advisors LLC has reduced its stake in Arrowhead Pharmaceuticals by 50% during the second quarter, holding 75,000 shares valued at approximately $1.19 million.
• Insider James C. Hamilton sold 20,000 shares for $700,000, decreasing his ownership by 8.62% and now holds 212,122 shares valued around $7.42 million.
• Arrowhead Pharmaceuticals' shares opened at $36.06, with a market cap of $4.99 billion, following a quarterly earnings report that showed a loss of $1.26 EPS, missing analyst expectations.

Pinion Investment Advisors LLC reduced its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 50.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the biotechnology company's stock after selling 75,000 shares during the quarter. Pinion Investment Advisors LLC owned 0.05% of Arrowhead Pharmaceuticals worth $1,185,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 297.6% during the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock valued at $28,000 after buying an additional 1,628 shares during the last quarter. CWM LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 134.3% during the first quarter. CWM LLC now owns 4,401 shares of the biotechnology company's stock valued at $56,000 after buying an additional 2,523 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Arrowhead Pharmaceuticals by 29.5% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,335 shares of the biotechnology company's stock valued at $84,000 after buying an additional 1,214 shares during the last quarter. KBC Group NV grew its holdings in shares of Arrowhead Pharmaceuticals by 40.8% during the first quarter. KBC Group NV now owns 7,356 shares of the biotechnology company's stock valued at $94,000 after buying an additional 2,132 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Arrowhead Pharmaceuticals during the first quarter valued at about $133,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $35.00, for a total value of $700,000.00. Following the sale, the insider owned 212,122 shares of the company's stock, valued at approximately $7,424,270. The trade was a 8.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 60,000 shares of company stock valued at $1,725,000 over the last 90 days. Insiders own 4.30% of the company's stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $36.06 on Friday. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of -28.17 and a beta of 1.13. 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 52 week low of $9.57 and a 52 week high of $39.42. The firm's 50-day simple moving average is $26.20 and its two-hundred day simple moving average is $18.76.

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

Analyst Upgrades and Downgrades

ARWR has been the topic of several analyst reports. HC Wainwright restated a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday. 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. B. Riley upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 11th. Chardan Capital restated a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. Finally, Wall Street Zen cut shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $43.14.

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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