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Eventide Asset Management LLC Purchases Shares of 313,289 Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Arrowhead Pharmaceuticals logo with Medical background

Eventide Asset Management LLC purchased a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 313,289 shares of the biotechnology company's stock, valued at approximately $9,587,000. Eventide Asset Management LLC owned approximately 0.25% of Arrowhead Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its holdings in shares of 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. HighTower Advisors LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 14.1% in the third quarter. HighTower Advisors LLC now owns 61,404 shares of the biotechnology company's stock valued at $1,646,000 after acquiring an additional 7,599 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of Arrowhead Pharmaceuticals by 31.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 93,084 shares of the biotechnology company's stock worth $2,501,000 after acquiring an additional 22,414 shares during the last quarter. UBS Group AG increased its holdings in shares of Arrowhead Pharmaceuticals by 11.7% in the 3rd quarter. UBS Group AG now owns 369,602 shares of the biotechnology company's stock valued at $9,931,000 after acquiring an additional 38,632 shares during the period. Finally, Citigroup Inc. raised its position in Arrowhead Pharmaceuticals by 57.8% in the 3rd quarter. Citigroup Inc. now owns 161,798 shares of the biotechnology company's stock valued at $4,348,000 after purchasing an additional 59,279 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.


Wall Street Analyst Weigh In

ARWR has been the topic of a number of recent research reports. Chardan Capital restated a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, June 3rd. HC Wainwright restated a "buy" rating and issued a $90.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, June 11th. Morgan Stanley decreased their price objective on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an "equal weight" rating for the company in a research report on Monday, May 13th. Finally, The Goldman Sachs Group began coverage on Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They issued a "neutral" rating and a $31.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.89.

Read Our Latest Stock Report on ARWR

Insiders Place Their Bets

In related news, Director Victoria Vakiener sold 1,799 shares of Arrowhead Pharmaceuticals stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total transaction of $41,934.69. Following the completion of the transaction, the director now directly owns 30,205 shares of the company's stock, valued at $704,078.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Arrowhead Pharmaceuticals news, Director Hongbo Lu purchased 1,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were acquired at an average cost of $27.50 per share, for a total transaction of $27,500.00. Following the completion of the transaction, the director now directly owns 33,680 shares of the company's stock, valued at $926,200. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Victoria Vakiener sold 1,799 shares of the firm's stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total transaction of $41,934.69. Following the transaction, 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.

Arrowhead Pharmaceuticals Stock Down 2.5 %

Shares of Arrowhead Pharmaceuticals stock traded down $0.66 during trading on Friday, reaching $25.84. The company's stock had a trading volume of 1,148,218 shares, compared to its average volume of 930,250. The business has a 50 day moving average price of $24.20 and a 200-day moving average price of $28.28. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $20.67 and a 12-month high of $39.83. The company has a market capitalization of $3.21 billion, a P/E ratio of -6.08 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. The business's revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. Research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.05 EPS for the current fiscal year.

About Arrowhead Pharmaceuticals

(Free Report)

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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Institutional Ownership by Quarter for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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