Victory Capital Management Inc. Has $577,000 Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Key Points

• Victory Capital Management Inc. increased its stake in Arrowhead Pharmaceuticals by 99.2%, owning 45,283 shares valued at $577,000 as of its most recent SEC filing.
• Several institutional investors adjusted their positions in Arrowhead, with Principal Financial Group Inc. growing its holdings by 117.8%, and now owning 629,075 shares worth $8,014,000.
• Arrowhead Pharmaceuticals recently reported $2.75 earnings per share for the quarter, significantly exceeding analysts' estimates of ($0.06), with a revenue of $542.71 million compared to the expected $116.27 million.

Victory Capital Management Inc. boosted its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 99.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,283 shares of the biotechnology company's stock after purchasing an additional 22,546 shares during the period. Victory Capital Management Inc.'s holdings in Arrowhead Pharmaceuticals were worth $577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 25.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company's stock valued at $208,889,000 after purchasing an additional 2,222,223 shares during the last quarter. Slate Path Capital LP lifted its position in Arrowhead Pharmaceuticals by 7.1% during the 4th quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company's stock worth $98,362,000 after acquiring an additional 347,000 shares during the last quarter. Norges Bank acquired a new position in Arrowhead Pharmaceuticals during the 4th quarter worth $38,622,000. Northern Trust Corp lifted its position in Arrowhead Pharmaceuticals by 11.4% during the 4th quarter. Northern Trust Corp now owns 1,484,419 shares of the biotechnology company's stock worth $27,907,000 after acquiring an additional 151,654 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Arrowhead Pharmaceuticals by 41.7% during the 4th quarter. Millennium Management LLC now owns 914,550 shares of the biotechnology company's stock worth $17,194,000 after acquiring an additional 268,946 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARWR has been the subject of a number of research analyst reports. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. Wall Street Zen lowered shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. TD Cowen raised shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a research report on Monday, July 28th. Chardan Capital restated a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. Finally, Citigroup dropped their price objective on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $43.71.

Arrowhead Pharmaceuticals Trading Down 1.0%

ARWR traded down $0.17 during mid-day trading on Wednesday, hitting $16.30. The stock had a trading volume of 1,045,516 shares, compared to its average volume of 1,881,028. The stock's fifty day simple moving average is $16.48 and its 200-day simple moving average is $16.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.15 and a quick ratio of 5.15. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $27.34. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -11.67, a price-to-earnings-growth ratio of 19.36 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $2.81. The company had revenue of $542.71 million for the quarter, compared to the consensus estimate of $116.27 million. During the same period in the prior year, the company earned ($1.02) EPS. As a group, research 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.