The Manufacturers Life Insurance Company Has $10.06 Million Stake in Arrowhead Pharmaceuticals, Inc. $ARWR

Key Points

• The Manufacturers Life Insurance Company increased its Arrowhead Pharmaceuticals stake by 63.4% in the first quarter, purchasing 62,271 additional shares and ending with a $10.06 million position. Institutional investors and hedge funds collectively own 62.61% of the company.
• Arrowhead shares opened at $86.01, up 1.6%, with the stock trading well above its 50-day and 200-day moving averages. The company remains unprofitable, reporting a quarterly loss of $0.93 per share and an 86.4% year-over-year revenue decline.
• Analyst sentiment is broadly positive, with nine Buy, three Hold, and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $96.92. B. Riley recently raised its target to $123, while an insider sold $228,334 worth of shares under a pre-arranged trading plan.

The Manufacturers Life Insurance Company raised its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 63.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,422 shares of the biotechnology company's stock after buying an additional 62,271 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of Arrowhead Pharmaceuticals worth $10,058,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Arrowhead Pharmaceuticals by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company's stock valued at $216,799,000 after purchasing an additional 133,921 shares in the last quarter. Baker BROS. Advisors LP boosted its stake in shares of Arrowhead Pharmaceuticals by 30.2% in the 4th quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company's stock valued at $144,441,000 after purchasing an additional 504,883 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Arrowhead Pharmaceuticals by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company's stock valued at $138,619,000 after purchasing an additional 6,264 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 497.4% during the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company's stock valued at $121,693,000 after purchasing an additional 1,526,164 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company's stock valued at $22,189,000 after purchasing an additional 447,456 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Stock Up 1.6%

Shares of Arrowhead Pharmaceuticals stock opened at $86.01 on Tuesday. The stock's 50-day moving average is $79.26 and its 200 day moving average is $70.85. Arrowhead Pharmaceuticals, Inc. has a one year low of $15.01 and a one year high of $95.49. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of -40.00 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping analysts' consensus estimates of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The business had revenue of $73.74 million during the quarter, compared to the consensus estimate of $73.84 million. During the same period in the previous year, the company posted $2.75 earnings per share. The firm's revenue for the quarter was down 86.4% on a year-over-year basis. Equities research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. B. Riley Financial increased their price objective on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Stifel Nicolaus began coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They set a "buy" rating and a $98.00 target price on the stock. Weiss Ratings downgraded shares of Arrowhead Pharmaceuticals from a "hold (c-)" rating to a "sell (d-)" rating in a report on Wednesday, May 20th. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Finally, Sanford C. Bernstein raised their price objective on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $96.92.

Insider Activity at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total value of $228,333.60. Following the completion of the sale, the director owned 52,012 shares in the company, valued at $3,998,682.56. The trade was a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by company insiders.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company's approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company's pipeline includes multiple candidates in various stages of development.

Want to see what other hedge funds are holding ARWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source