Public Sector Pension Investment Board Acquires New Stake in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• The Public Sector Pension Investment Board invested approximately $5.09 million in Arrowhead Pharmaceuticals, acquiring 399,870 shares during the first quarter.
• Arrowhead Pharmaceuticals' stock price rose 9.2%, opening at $20.51, with a market cap of $2.84 billion and a P/E ratio of -16.02.
• Insider James C. Hamilton sold 9,389 shares at $20.00 each, decreasing his ownership by 3.46%, now holding approximately 262,122 shares.

Public Sector Pension Investment Board acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 399,870 shares of the biotechnology company's stock, valued at approximately $5,094,000. Public Sector Pension Investment Board owned about 0.29% of Arrowhead Pharmaceuticals at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ARWR. Summit Investment Advisors Inc. grew its holdings 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 period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings 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 worth $184,000 after acquiring an additional 1,195 shares during the period. GAMMA Investing LLC grew its holdings in Arrowhead Pharmaceuticals by 297.6% during the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 1,628 shares during the period. Bank of Montreal Can grew its holdings in Arrowhead Pharmaceuticals by 13.3% during the fourth quarter. Bank of Montreal Can now owns 15,018 shares of the biotechnology company's stock worth $282,000 after acquiring an additional 1,759 shares during the period. Finally, Captrust Financial Advisors grew its holdings in Arrowhead Pharmaceuticals by 13.5% during the fourth quarter. Captrust Financial Advisors now owns 17,074 shares of the biotechnology company's stock worth $321,000 after acquiring an additional 2,035 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider James C. Hamilton sold 9,389 shares of Arrowhead Pharmaceuticals 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 owned 262,122 shares in the company, valued at approximately $5,242,440. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.30% of the company's stock.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR traded up $0.5880 during midday trading on Friday, hitting $21.3380. The stock had a trading volume of 664,641 shares, compared to its average volume of 1,946,213. The company has a market capitalization of $2.95 billion, a PE ratio of -16.64 and a beta of 0.94. The stock has a 50 day simple moving average of $16.99 and a 200-day simple moving average of $15.95. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $9.57 and a 1 year high of $27.34. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.39.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The firm 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 business posted ($1.38) EPS. On average, sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ARWR has been the topic of several analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Citigroup dropped their price objective on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. B. Riley raised Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, August 11th. Chardan Capital reissued a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. Finally, TD Cowen raised Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, July 28th. Two investment 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 stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target 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.