Rafferty Asset Management LLC Cuts Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Rafferty Asset Management LLC lessened its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,377 shares of the biotechnology company's stock after selling 42,517 shares during the quarter. Rafferty Asset Management LLC owned about 0.11% of Arrowhead Pharmaceuticals worth $2,601,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ARWR. R Squared Ltd purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at about $38,000. Van ECK Associates Corp raised its position in shares of Arrowhead Pharmaceuticals by 72.3% during the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company's stock valued at $56,000 after buying an additional 1,250 shares during the last quarter. KBC Group NV raised its position in shares of Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company's stock valued at $98,000 after buying an additional 1,644 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $190,000. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $15.74 on Tuesday. The business's 50 day moving average price is $13.30 and its 200 day moving average price is $17.76. The firm has a market cap of $2.17 billion, a P/E ratio of -3.04 and a beta of 0.89. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $9.57 and a 52 week high of $30.41. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its earnings results on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $2.81. The firm had revenue of $542.71 million during the quarter, compared to analysts' expectations of $116.27 million. During the same quarter in the prior year, the company earned ($1.02) EPS. On average, sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 133,333 shares of the company's 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 sale, the chief executive officer now owns 3,773,802 shares in the company, valued at approximately $64,230,110.04. This represents a 3.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 275,880 shares of company stock worth $4,034,037 over the last quarter. Insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. HC Wainwright reiterated a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. Chardan Capital restated a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. B. Riley restated a "buy" rating and issued a $38.00 price objective (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.13.

Arrowhead Pharmaceuticals 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.

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