Renaissance Technologies LLC bought a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,036,495 shares of the biotechnology company’s stock, valued at approximately $64,988,000. Renaissance Technologies LLC owned approximately 0.74% of Arrowhead Pharmaceuticals at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Arrowhead Pharmaceuticals by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after buying an additional 133,921 shares during the period. Baker BROS. Advisors LP raised its position in Arrowhead Pharmaceuticals by 30.2% in the 4th 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 last quarter. Arrowstreet Capital Limited Partnership raised its position in Arrowhead Pharmaceuticals by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock valued at $138,619,000 after buying an additional 6,264 shares during the last quarter. Fred Alger Management LLC lifted its stake in Arrowhead Pharmaceuticals by 497.4% in the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after acquiring an additional 1,526,164 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after acquiring an additional 447,456 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.
Arrowhead Pharmaceuticals Stock Performance
Shares of ARWR stock opened at $85.60 on Monday. The stock has a market cap of $12.06 billion, a P/E ratio of -39.81 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23. The company has a fifty day moving average price of $77.94 and a two-hundred day moving average price of $70.02. Arrowhead Pharmaceuticals, Inc. has a one year low of $15.01 and a one year high of $95.49.
Analyst Ratings Changes
A number of analysts have recently issued reports on ARWR shares. Chardan Capital lifted their price objective on shares of Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday. Stifel Nicolaus initiated coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price target on the stock. Sanford C. Bernstein boosted their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada increased their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned 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 a consensus rating of “Moderate Buy” and a consensus price target of $93.83.
Read Our Latest Analysis on Arrowhead Pharmaceuticals
Insider Buying and Selling
In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total transaction of $228,333.60. Following the transaction, the director owned 52,012 shares of the company’s stock, valued at $3,998,682.56. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.60% of the company’s stock.
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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