Voya Investment Management LLC Sells 246,573 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Voya Investment Management LLC reduced its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 82.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,793 shares of the biotechnology company's stock after selling 246,573 shares during the period. Voya Investment Management LLC's holdings in Arrowhead Pharmaceuticals were worth $1,011,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARWR. Avoro Capital Advisors LLC boosted its position in shares of Arrowhead Pharmaceuticals by 25.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company's stock valued at $208,889,000 after purchasing an additional 2,222,223 shares in the last quarter. Slate Path Capital LP boosted its holdings in shares of Arrowhead Pharmaceuticals by 7.1% during the 4th quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company's stock worth $98,362,000 after buying an additional 347,000 shares in the last quarter. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at $38,622,000. Charles Schwab Investment Management Inc. boosted its stake in Arrowhead Pharmaceuticals by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company's stock worth $19,133,000 after acquiring an additional 10,785 shares in the last quarter. Finally, abrdn plc grew its holdings in Arrowhead Pharmaceuticals by 12.2% in the fourth quarter. abrdn plc now owns 450,075 shares of the biotechnology company's stock worth $8,461,000 after purchasing an additional 48,929 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 133,333 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total value of $2,269,327.66. Following the completion of the sale, the chief executive officer now owns 3,773,802 shares of the company's stock, valued at $64,230,110.04. This represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 275,880 shares of company stock worth $4,034,037 over the last three months. 4.30% of the stock is owned by insiders.

Analyst Ratings Changes

ARWR has been the topic of a number of research analyst reports. Chardan Capital reissued a "buy" rating and set a $60.00 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 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Finally, B. Riley restated a "buy" rating and set a $38.00 price target (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $41.44.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR traded down $0.24 during trading hours on Friday, hitting $13.01. The company had a trading volume of 1,252,999 shares, compared to its average volume of 1,459,447. The firm has a 50 day simple moving average of $13.44 and a 200 day simple moving average of $17.96. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $9.57 and a 52 week high of $30.41. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -2.52 and a beta of 0.89. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.97). Equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

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.