Engineers Gate Manager LP cut its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) by 18.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,495 shares of the biotechnology company’s stock after selling 8,361 shares during the period. Engineers Gate Manager LP’s holdings in Arrowhead Pharmaceuticals were worth $2,975,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in ARWR. Optiver Holding B.V. grew its holdings in shares of Arrowhead Pharmaceuticals by 83.8% in the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 186 shares in the last quarter. Versant Capital Management Inc raised its stake in Arrowhead Pharmaceuticals by 285.1% during the second quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 248 shares in the last quarter. Carolina Wealth Advisors LLC raised its stake in Arrowhead Pharmaceuticals by 80.6% during the second 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. iSAM Funds UK Ltd bought a new position in Arrowhead Pharmaceuticals during the third quarter valued at $29,000. Finally, Persistent Asset Partners Ltd bought a new position in Arrowhead Pharmaceuticals during the second quarter valued at $39,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.
Arrowhead Pharmaceuticals Stock Performance
NASDAQ ARWR opened at $82.85 on Monday. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $28.12 and a 52 week high of $95.49. The company has a 50 day moving average price of $84.30 and a 200 day moving average price of $75.10. 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 market cap of $11.67 billion, a PE ratio of -36.82 and a beta of 1.28.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 31st. Chardan Capital reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 31st. Leerink Partners lifted their target price on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, June 17th. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 1st. Finally, Stifel Nicolaus began coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price target on the stock. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.15.
Get Our Latest Analysis on ARWR
Insider Buying and Selling
In related news, Director Adeoye Y. Olukotun sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the sale, the director directly owned 31,600 shares of the company’s stock, valued at $2,747,936. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael S. Perry sold 11,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the sale, the director directly owned 111,459 shares in the company, valued at $9,730,370.70. The trade was a 9.43% decrease in their position. The SEC filing for this sale provides additional information. 3.60% of the stock is owned by corporate insiders.
Arrowhead Pharmaceuticals Profile
Arrowhead Pharmaceuticals, Inc (NASDAQ:ARWR) is a biopharmaceutical company focused on developing medicines that silence disease-causing genes. The company uses RNA interference (RNAi), a biological process that reduces the production of specific proteins, to target conditions that may be difficult to treat with conventional drugs.
Arrowhead’s proprietary TRiM platform is designed to deliver RNAi-based therapies to different tissues, including the liver, lungs and other organs. Its investigational pipeline has included candidates for cardiovascular and metabolic diseases, liver disorders, pulmonary conditions and inflammatory diseases.
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