Clearbridge Investments LLC lowered its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) by 46.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 208,062 shares of the biotechnology company’s stock after selling 183,093 shares during the quarter. Clearbridge Investments LLC’s holdings in Arrowhead Pharmaceuticals were worth $13,813,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in ARWR. Arrowstreet Capital Limited Partnership increased its holdings in shares of Arrowhead Pharmaceuticals by 3,142.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock valued at $71,797,000 after acquiring an additional 2,017,489 shares during the last quarter. Norges Bank purchased a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $113,159,000. Deerfield Management Company L.P. purchased a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at about $34,249,000. Balyasny Asset Management L.P. acquired a new stake in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at about $27,349,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Arrowhead Pharmaceuticals by 253.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,028,736 shares of the biotechnology company’s stock valued at $68,636,000 after purchasing an additional 737,713 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.
Wall Street Analyst Weigh In
ARWR has been the subject of a number of research analyst reports. Weiss Ratings cut Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. initiated coverage on Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an “overweight” rating and a $88.00 price objective for the company. Sanford C. Bernstein raised their price target on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada upped their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Wall Street Zen cut Arrowhead Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.80.
Insider Activity at Arrowhead Pharmaceuticals
In related news, insider James C. Hamilton sold 10,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the insider owned 226,958 shares in the company, valued at approximately $17,021,850. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of Arrowhead Pharmaceuticals stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total value of $934,328.25. Following the completion of the transaction, the chief financial officer owned 162,905 shares in the company, valued at $11,623,271.75. The trade was a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 26,065 shares of company stock worth $1,912,662. 3.60% of the stock is owned by insiders.
Arrowhead Pharmaceuticals Price Performance
Shares of NASDAQ:ARWR opened at $70.73 on Thursday. The company has a market cap of $9.96 billion, a P/E ratio of -32.90 and a beta of 1.28. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $14.30 and a 52 week high of $82.26. The business has a fifty day simple moving average of $71.99 and a 200-day simple moving average of $66.41.
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The business had revenue of $73.74 million during the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The business’s revenue for the quarter was down 86.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.75 earnings per share. Equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3 EPS for the current year.
Arrowhead Pharmaceuticals Company Profile
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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