Principal Financial Group Inc. lessened its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) by 31.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 490,122 shares of the biotechnology company’s stock after selling 225,417 shares during the quarter. Principal Financial Group Inc.’s holdings in Arrowhead Pharmaceuticals were worth $30,731,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently made changes to their positions in ARWR. Geode Capital Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after purchasing an additional 133,921 shares in the last quarter. Baker BROS. Advisors LP increased its position in shares of Arrowhead Pharmaceuticals by 30.2% during the fourth quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock valued at $144,441,000 after buying an additional 504,883 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Arrowhead Pharmaceuticals by 0.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock worth $138,619,000 after buying an additional 6,264 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after buying an additional 1,526,164 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 34.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after acquiring an additional 447,456 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, insider James C. Hamilton sold 10,000 shares of the stock in a transaction 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 transaction, the insider owned 226,958 shares of the company’s stock, valued at $17,021,850. This represents a 4.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the sale, the chief financial officer owned 162,905 shares in the company, valued at approximately $11,623,271.75. This trade represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 26,065 shares of company stock valued at $1,912,662 in the last quarter. Corporate insiders own 3.60% of the company’s stock.
Arrowhead Pharmaceuticals Price Performance
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The business had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. Arrowhead Pharmaceuticals’s quarterly revenue was down 86.4% on a year-over-year basis. During the same period last year, the firm posted $2.75 earnings per share. Sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.07 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on ARWR. Weiss Ratings lowered shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Stifel Nicolaus started coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price target for the company. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $100.00 in a report on Tuesday, April 21st. Finally, Leerink Partners increased their price objective on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.
Get Our Latest Research Report on ARWR
Arrowhead Pharmaceuticals 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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