Panagora Asset Management Inc. Has $2.61 Million Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Panagora Asset Management Inc. reduced its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 58.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,262 shares of the biotechnology company's stock after selling 121,831 shares during the period. Panagora Asset Management Inc. owned 0.08% of Arrowhead Pharmaceuticals worth $2,609,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Arrowhead Pharmaceuticals by 22.9% during the 4th quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company's stock worth $73,000 after buying an additional 447 shares in the last quarter. Fifth Third Bancorp lifted its position in Arrowhead Pharmaceuticals by 112.0% during the third quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company's stock worth $27,000 after buying an additional 522 shares in the last quarter. Washington Trust Advisors Inc. acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Arrowhead Pharmaceuticals by 12.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,714 shares of the biotechnology company's stock worth $279,000 after purchasing an additional 952 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Arrowhead Pharmaceuticals by 2.4% in the 3rd quarter. New York State Common Retirement Fund now owns 42,866 shares of the biotechnology company's stock valued at $1,152,000 after purchasing an additional 999 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Trading Up 0.2 %

NASDAQ:ARWR traded up $0.05 during midday trading on Monday, reaching $24.82. The company had a trading volume of 444,363 shares, compared to its average volume of 1,391,396. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -5.84 and a beta of 0.78. The stock's fifty day simple moving average is $25.38 and its 200-day simple moving average is $28.71. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $20.67 and a 12-month high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 140.72%. The firm's revenue for the quarter was down 100.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3 EPS for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the completion of the sale, the chief financial officer now directly owns 400,600 shares of the company's stock, valued at approximately $14,097,114. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 40,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the completion of the sale, the chief financial officer now directly owns 400,600 shares of the company's stock, valued at approximately $14,097,114. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Victoria Vakiener sold 1,799 shares of Arrowhead Pharmaceuticals stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $41,934.69. Following the sale, the director now directly owns 30,205 shares of the company's stock, valued at $704,078.55. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ARWR has been the topic of several analyst reports. Morgan Stanley reduced their price target on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Monday, May 13th. Royal Bank of Canada reissued an "outperform" rating and set a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 7th. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, May 13th. Chardan Capital reiterated a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Friday, May 10th. Finally, Citigroup upped their price target on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.00.

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.