Los Angeles Capital Management LLC Purchases New Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Los Angeles Capital Management LLC acquired a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 57,948 shares of the biotechnology company’s stock, valued at approximately $916,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Savant Capital LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth $201,000. Resona Asset Management Co. Ltd. boosted its holdings in shares of Arrowhead Pharmaceuticals by 8.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 11,218 shares of the biotechnology company’s stock valued at $180,000 after acquiring an additional 900 shares in the last quarter. Arrowroot Family Office LLC bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth $179,000. Bryce Point Capital LLC bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth $164,000. Finally, Bank of New York Mellon Corp increased its holdings in Arrowhead Pharmaceuticals by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 818,079 shares of the biotechnology company’s stock worth $12,926,000 after purchasing an additional 42,040 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Analyst Ratings Changes

ARWR has been the topic of several research reports. B. Riley upgraded Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 11th. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. TD Cowen upgraded shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, July 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Finally, Chardan Capital reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.38.

Arrowhead Pharmaceuticals Stock Down 0.7%

Shares of NASDAQ ARWR opened at $41.14 on Friday. The company’s 50 day moving average price is $35.60 and its 200-day moving average price is $23.47. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.87 and a current ratio of 4.87. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $9.57 and a 52-week high of $43.69. The company has a market capitalization of $5.69 billion, a P/E ratio of -32.14 and a beta of 1.27.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 20,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total transaction of $700,000.00. Following the completion of the sale, the insider directly owned 212,122 shares in the company, valued at approximately $7,424,270. This trade represents a 8.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 50,000 shares of company stock worth $1,525,000 over the last quarter. Corporate insiders own 4.30% 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.