Profund Advisors LLC grew its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) by 24.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,542 shares of the biotechnology company’s stock after purchasing an additional 7,108 shares during the quarter. Profund Advisors LLC’s holdings in Arrowhead Pharmaceuticals were worth $2,426,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. CWM LLC lifted its stake in Arrowhead Pharmaceuticals by 1.4% in the 4th quarter. CWM LLC now owns 12,347 shares of the biotechnology company’s stock worth $820,000 after purchasing an additional 168 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Arrowhead Pharmaceuticals by 3.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,924 shares of the biotechnology company’s stock worth $377,000 after purchasing an additional 326 shares in the last quarter. HighTower Advisors LLC lifted its stake in Arrowhead Pharmaceuticals by 0.3% in the 4th quarter. HighTower Advisors LLC now owns 133,229 shares of the biotechnology company’s stock worth $8,845,000 after purchasing an additional 340 shares in the last quarter. Tsfg LLC purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $25,000. Finally, Oregon Public Employees Retirement Fund lifted its stake in Arrowhead Pharmaceuticals by 1.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,614 shares of the biotechnology company’s stock worth $2,099,000 after purchasing an additional 430 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Arrowhead Pharmaceuticals
In related news, insider James C. Hamilton sold 10,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the sale, the insider owned 226,958 shares in the company, valued at approximately $17,021,850. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the completion of the sale, the director owned 52,012 shares of the company’s stock, valued at $3,998,682.56. This trade represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 36,065 shares of company stock worth $2,554,562. Insiders own 3.60% of the company’s stock.
Arrowhead Pharmaceuticals Stock Down 1.0%
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The business had revenue of $73.74 million during the quarter, compared to the consensus estimate of $73.84 million. During the same quarter last year, the firm earned $2.75 EPS. The business’s revenue was down 86.4% compared to the same quarter last year. On average, equities research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have weighed in on ARWR. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, March 25th. JPMorgan Chase & Co. began coverage on shares of Arrowhead Pharmaceuticals in a research note on Friday, May 1st. They issued an “overweight” rating and a $88.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, May 6th. Sanford C. Bernstein raised their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada raised their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.80.
Read Our Latest Research Report on ARWR
About Arrowhead Pharmaceuticals
Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.
The company’s pipeline includes multiple candidates in various stages of development.
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