Assenagon Asset Management S.A. Decreases Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Assenagon Asset Management S.A. lowered its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 90.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 38,408 shares of the biotechnology company's stock after selling 381,964 shares during the period. Assenagon Asset Management S.A.'s holdings in Arrowhead Pharmaceuticals were worth $1,175,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Arrowhead Pharmaceuticals by 58.2% during the 3rd quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company's stock worth $115,780,000 after buying an additional 1,584,425 shares in the last quarter. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth approximately $60,235,000. State Street Corp raised its holdings in shares of Arrowhead Pharmaceuticals by 19.2% in the 2nd quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company's stock worth $196,568,000 after purchasing an additional 900,791 shares during the period. Nomura Holdings Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 4,031.7% in the 4th quarter. Nomura Holdings Inc. now owns 649,548 shares of the biotechnology company's stock worth $26,302,000 after purchasing an additional 633,827 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 631.3% in the 4th quarter. Millennium Management LLC now owns 575,624 shares of the biotechnology company's stock worth $23,347,000 after purchasing an additional 496,910 shares during the period. Institutional investors and hedge funds own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Trading Down 1.3 %

Shares of ARWR traded down $0.33 during mid-day trading on Friday, reaching $25.78. 709,617 shares of the stock traded hands, compared to its average volume of 1,117,996. The firm has a fifty day moving average price of $30.31 and a 200 day moving average price of $29.06. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -9.27 and a beta of 0.71. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $20.67 and a 1 year high of $42.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.46). The firm had revenue of $3.55 million for the quarter, compared to analysts' expectations of $35.60 million. Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 90.77%. The firm's revenue for the quarter was down 94.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.39) earnings per share. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.7 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on ARWR shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $50.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 7th. Morgan Stanley lifted their price target on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 7th. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, February 8th. Citigroup lifted their price objective on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a "neutral" rating in a research note on Wednesday, February 7th. Finally, Bank of America lifted their price objective on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a "buy" rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.45.

Insider Buying and Selling

In related news, Director Hongbo Lu bought 1,000 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average cost of $27.49 per share, for a total transaction of $27,490.00. Following the completion of the transaction, the director now owns 31,680 shares of the company's stock, valued at $870,883.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Arrowhead Pharmaceuticals news, Director Douglas B. Given sold 2,911 shares of the business's stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $38.06, for a total value of $110,792.66. Following the completion of the sale, the director now directly owns 129,711 shares of the company's stock, valued at $4,936,800.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hongbo Lu purchased 1,000 shares of the stock in a transaction on Monday, March 18th. The stock was acquired at an average cost of $27.49 per share, with a total value of $27,490.00. Following the completion of the purchase, the director now directly owns 31,680 shares of the company's stock, valued at $870,883.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 108,350 shares of company stock worth $3,671,392. Corporate insiders own 4.50% 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.