Woodline Partners LP Cuts Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Woodline Partners LP reduced its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 840,174 shares of the biotechnology company's stock after selling 25,620 shares during the quarter. Woodline Partners LP owned about 0.67% of Arrowhead Pharmaceuticals worth $15,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ARWR. Pacer Advisors Inc. raised its position in Arrowhead Pharmaceuticals by 11.6% in the fourth quarter. Pacer Advisors Inc. now owns 27,918 shares of the biotechnology company's stock valued at $525,000 after purchasing an additional 2,907 shares during the period. Raymond James Financial Inc. purchased a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at about $651,000. Empowered Funds LLC purchased a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at about $268,000. BNP Paribas Financial Markets raised its position in Arrowhead Pharmaceuticals by 59.5% in the fourth quarter. BNP Paribas Financial Markets now owns 88,029 shares of the biotechnology company's stock valued at $1,655,000 after purchasing an additional 32,841 shares during the period. Finally, Slate Path Capital LP raised its position in Arrowhead Pharmaceuticals by 7.1% in the fourth quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company's stock valued at $98,362,000 after purchasing an additional 347,000 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on ARWR shares. StockNews.com raised Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. B. Riley restated a "buy" rating and set a $38.00 target price (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. Finally, Citigroup lowered their target price on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.13.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $15.31 on Thursday. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The firm's 50-day moving average price is $13.33 and its two-hundred day moving average price is $17.73. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $9.57 and a 52-week high of $30.41. The stock has a market capitalization of $2.11 billion, a P/E ratio of -2.96 and a beta of 0.89.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $2.81. The business had revenue of $542.71 million for the quarter, compared to the consensus estimate of $116.27 million. During the same period last year, the firm posted ($1.02) EPS. As a group, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Activity

In other news, CEO Christopher Richard Anzalone sold 51,425 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $15.07, for a total transaction of $774,974.75. Following the sale, the chief executive officer now owns 4,062,377 shares of the company's stock, valued at approximately $61,220,021.39. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 275,880 shares of company stock valued at $4,034,037. Insiders own 4.30% of the company's stock.

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.

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