Quantbot Technologies LP acquired a new stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 10,831 shares of the biotechnology company’s stock, valued at approximately $883,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Carolina Wealth Advisors LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 80.6% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 154 shares in the last quarter. CWM LLC increased its position in shares of Arrowhead Pharmaceuticals by 1.4% during the fourth quarter. CWM LLC now owns 12,347 shares of the biotechnology company’s stock valued at $820,000 after buying an additional 168 shares during the period. First Horizon Corp raised its stake in Arrowhead Pharmaceuticals by 36.2% in the first quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock worth $41,000 after buying an additional 174 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Arrowhead Pharmaceuticals by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company’s stock worth $737,000 after buying an additional 178 shares in the last quarter. Finally, Optiver Holding B.V. lifted its holdings in Arrowhead Pharmaceuticals by 83.8% in the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after buying an additional 186 shares during the period. 62.61% of the stock is currently owned by institutional investors.
Insider Activity at Arrowhead Pharmaceuticals
In other news, Director Michael S. Perry sold 11,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the transaction, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. This represents a 9.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the sale, the director owned 31,600 shares in the company, valued at approximately $2,747,936. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.60% of the company’s stock.
Arrowhead Pharmaceuticals Price Performance
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The firm had revenue of $75.25 million during the quarter, compared to the consensus estimate of $44.17 million. During the same quarter in the previous year, the firm earned ($1.26) EPS. The business’s revenue for the quarter was up 171.0% on a year-over-year basis. As a group, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current fiscal year.
Analysts Set New Price Targets
ARWR has been the topic of a number of research analyst reports. HC Wainwright upped their target price on Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Piper Sandler restated an “overweight” rating and set a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their price target on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Chardan Capital increased their price objective on Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.33.
Check Out Our Latest Report on ARWR
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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