Mutual of America Capital Management LLC Reduces Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Mutual of America Capital Management LLC reduced its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 41.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,229 shares of the biotechnology company's stock after selling 46,903 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Arrowhead Pharmaceuticals worth $2,027,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Washington Trust Advisors Inc. bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $25,000. Fifth Third Bancorp increased its holdings in Arrowhead Pharmaceuticals by 112.0% in the 3rd quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company's stock worth $27,000 after purchasing an additional 522 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Arrowhead Pharmaceuticals in the 2nd quarter worth about $32,000. Advisors Asset Management Inc. increased its holdings in Arrowhead Pharmaceuticals by 94.6% in the 1st quarter. Advisors Asset Management Inc. now owns 720 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Arrowhead Pharmaceuticals by 22.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,201 shares of the biotechnology company's stock worth $42,000 after purchasing an additional 220 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Hongbo Lu purchased 1,000 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were acquired at an average price of $27.50 per share, for a total transaction of $27,500.00. Following the completion of the acquisition, the director now owns 33,680 shares in the company, valued at $926,200. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 57,499 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $32.35, for a total value of $1,860,092.65. Following the transaction, the chief executive officer now owns 3,715,048 shares in the company, valued at $120,181,802.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Hongbo Lu purchased 1,000 shares of the business's stock in a transaction on Wednesday, March 20th. The stock was purchased at an average price of $27.50 per share, for a total transaction of $27,500.00. Following the acquisition, the director now owns 33,680 shares of the company's stock, valued at approximately $926,200. The disclosure for this purchase can be found here. 4.50% of the stock is currently owned by insiders.

Arrowhead Pharmaceuticals Trading Down 1.2 %

NASDAQ ARWR traded down $0.28 during trading hours on Friday, hitting $22.33. 965,833 shares of the company's stock were exchanged, compared to its average volume of 765,318. The stock has a 50-day simple moving average of $28.69 and a 200 day simple moving average of $28.94. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $20.67 and a 1-year high of $42.48. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -8.03 and a beta of 0.71.

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

Wall Street Analyst Weigh In

ARWR has been the subject of a number of recent research reports. Morgan Stanley upped their target price on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 7th. Bank of America upped their target price on Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, January 2nd. Royal Bank of Canada reissued an "outperform" rating and issued a $50.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. Citigroup increased their price target on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a "neutral" rating in a research note on Wednesday, February 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.45.

Arrowhead Pharmaceuticals 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.