Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lowered its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 23.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 138,377 shares of the biotechnology company's stock after selling 42,517 shares during the period. Rafferty Asset Management LLC owned 0.11% of Arrowhead Pharmaceuticals worth $2,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $38,000. Van ECK Associates Corp raised its holdings in shares of Arrowhead Pharmaceuticals by 72.3% during the 4th 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 period. KBC Group NV raised its holdings in shares of Arrowhead Pharmaceuticals by 45.9% during the 4th 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 period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $190,000. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $205,000. Hedge funds and other institutional investors own 62.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on ARWR shares. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Citigroup cut their price target on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. B. Riley restated a "buy" rating and set a $38.00 target price (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Arrowhead Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $42.13.

Insider Activity at Arrowhead Pharmaceuticals

In other news, CEO Christopher Richard Anzalone sold 133,333 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total value of $2,269,327.66. Following the completion of the sale, the chief executive officer now directly owns 3,773,802 shares of the company's stock, valued at approximately $64,230,110.04. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 275,880 shares of company stock valued at $4,034,037 over the last three months. 4.30% of the stock is owned by corporate insiders.

Arrowhead Pharmaceuticals Stock Down 1.7%

ARWR traded down $0.26 on Friday, reaching $15.13. The company's stock had a trading volume of 1,230,383 shares, compared to its average volume of 1,505,636. The stock has a 50 day moving average of $13.32 and a two-hundred day moving average of $17.61. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -2.93 and a beta of 0.89. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period last year, the company earned ($1.02) earnings per share. As a group, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Arrowhead Pharmaceuticals Company Profile

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.