HighTower Advisors LLC reduced its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,394 shares of the biotechnology company’s stock after selling 6,068 shares during the period. HighTower Advisors LLC’s holdings in Arrowhead Pharmaceuticals were worth $11,444,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in ARWR. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Arrowhead Pharmaceuticals in the second quarter valued at approximately $3,533,000. California State Teachers Retirement System increased its holdings in Arrowhead Pharmaceuticals by 7,797.6% in the 2nd quarter. California State Teachers Retirement System now owns 11,397,217 shares of the biotechnology company’s stock worth $928,987,000 after purchasing an additional 11,252,904 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in Arrowhead Pharmaceuticals by 3.6% in the 2nd quarter. Washington Trust Advisors Inc. now owns 26,185 shares of the biotechnology company’s stock worth $2,134,000 after purchasing an additional 911 shares in the last quarter. Compass Financial Management LLC bought a new position in Arrowhead Pharmaceuticals in the second quarter valued at about $179,000. Finally, AlphaGrep UK Ltd acquired a new stake in shares of Arrowhead Pharmaceuticals during the second quarter valued at about $375,000. 62.61% of the stock is owned by institutional investors.
Arrowhead Pharmaceuticals Price Performance
Shares of NASDAQ ARWR opened at $82.63 on Thursday. The company has a market capitalization of $11.64 billion, a PE ratio of -36.72 and a beta of 1.28. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. The firm has a fifty day simple moving average of $84.34 and a 200 day simple moving average of $74.82. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $27.80 and a twelve month high of $95.49.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on ARWR shares. Royal Bank Of Canada restated an “outperform” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 31st. Piper Sandler reiterated an “overweight” rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. Chardan Capital reissued a “buy” rating and set a $115.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 31st. Stifel Nicolaus began coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 1st. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.15.
Check Out Our Latest Stock Analysis on Arrowhead Pharmaceuticals
Insider Buying and Selling at Arrowhead Pharmaceuticals
In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of the firm’s stock in a transaction 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 completion of the sale, the director directly owned 111,459 shares in the company, valued at approximately $9,730,370.70. This trade represents a 9.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Adeoye Y. Olukotun sold 2,000 shares of Arrowhead Pharmaceuticals stock in a transaction 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 completion of the sale, the director directly owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.60% of the company’s stock.
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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