Rhumbline Advisers Reduces Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Rhumbline Advisers cut its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,979 shares of the biotechnology company's stock after selling 34,365 shares during the quarter. Rhumbline Advisers owned about 0.25% of Arrowhead Pharmaceuticals worth $4,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in Arrowhead Pharmaceuticals in the fourth quarter worth $49,000. Van ECK Associates Corp boosted 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 valued at $56,000 after acquiring an additional 1,250 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth $137,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $190,000. Finally, Cibc World Markets Corp bought a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth about $210,000. Institutional investors own 62.61% of the company's stock.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 50,800 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $11.49, for a total transaction of $583,692.00. Following the sale, the chief executive officer now directly owns 3,921,255 shares in the company, valued at $45,055,219.95. This represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ARWR. HC Wainwright reissued a "buy" rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 20th. Chardan Capital restated a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, May 13th. Citigroup lowered their price objective on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. B. Riley reissued a "buy" rating and set a $38.00 target price (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Finally, Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.71.

Arrowhead Pharmaceuticals Stock Down 3.0%

Shares of NASDAQ ARWR opened at $15.74 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $9.57 and a 12-month high of $30.41. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. The stock has a market cap of $2.17 billion, a PE ratio of -3.04 and a beta of 0.96. The company has a 50-day moving average of $14.25 and a 200 day moving average of $17.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, beating the consensus estimate of ($0.06) by $2.81. The firm had revenue of $542.71 million for the quarter, compared to analysts' expectations of $116.27 million. During the same period in the previous year, the firm posted ($1.02) EPS. As a group, sell-side analysts predict 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.

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