Russell Investments Group Ltd. Sells 177,660 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• Russell Investments Group Ltd. reduced its stake in Arrowhead Pharmaceuticals, Inc. by 96.9% in Q1, leaving them with only 5,629 shares valued at $72,000.
• Several institutional investors, including Exchange Traded Concepts LLC and Principal Financial Group Inc., have increased their stakes in Arrowhead, demonstrating varied investor confidence.
• Analysts have differing views on Arrowhead, with B. Riley upgrading to a "strong-buy" and others adjusting their price targets, reflecting a consensus target price of $43.14.

Russell Investments Group Ltd. cut its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 96.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,629 shares of the biotechnology company's stock after selling 177,660 shares during the quarter. Russell Investments Group Ltd.'s holdings in Arrowhead Pharmaceuticals were worth $72,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. HighTower Advisors LLC raised its position in shares of Arrowhead Pharmaceuticals by 49.8% during the first quarter. HighTower Advisors LLC now owns 112,417 shares of the biotechnology company's stock worth $1,432,000 after acquiring an additional 37,361 shares during the last quarter. Public Sector Pension Investment Board bought a new position in shares of Arrowhead Pharmaceuticals during the first quarter worth about $5,094,000. Nuveen LLC bought a new position in shares of Arrowhead Pharmaceuticals during the first quarter worth about $4,305,000. King Luther Capital Management Corp grew its stake in Arrowhead Pharmaceuticals by 8.6% during the first quarter. King Luther Capital Management Corp now owns 83,590 shares of the biotechnology company's stock worth $1,065,000 after purchasing an additional 6,625 shares during the period. Finally, Invesco Ltd. grew its stake in Arrowhead Pharmaceuticals by 78.2% during the first quarter. Invesco Ltd. now owns 314,080 shares of the biotechnology company's stock worth $4,001,000 after purchasing an additional 137,845 shares during the period. 62.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Chardan Capital reaffirmed a "buy" rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 11th. B. Riley raised Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday, August 11th. Royal Bank Of Canada decreased their target price on Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. TD Cowen raised Arrowhead Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 28th. Finally, Wall Street Zen cut Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of "Buy" and a consensus target price of $43.14.

Insider Activity

In related news, insider James C. Hamilton sold 15,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $25.00, for a total transaction of $375,000.00. Following the transaction, the insider owned 247,122 shares of the company's stock, valued at $6,178,050. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 25,000 shares of company stock worth $575,000 over the last 90 days. 4.30% of the stock is owned by insiders.

Arrowhead Pharmaceuticals Stock Up 0.6%

Arrowhead Pharmaceuticals stock traded up $0.18 during mid-day trading on Tuesday, reaching $27.35. The stock had a trading volume of 1,420,872 shares, compared to its average volume of 2,027,862. 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 fifty-two week low of $9.57 and a fifty-two week high of $29.34. The stock's 50-day simple moving average is $19.00 and its 200-day simple moving average is $16.24. The firm has a market capitalization of $3.78 billion, a PE ratio of -21.36 and a beta of 1.00.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The company had revenue of $27.77 million during the quarter, compared to the consensus estimate of $29.01 million. During the same quarter last year, the firm posted ($1.38) earnings per share. On average, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

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.