ProShare Advisors LLC Trims Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

ProShare Advisors LLC lowered its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 18.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,081 shares of the biotechnology company’s stock after selling 6,511 shares during the quarter. ProShare Advisors LLC’s holdings in Arrowhead Pharmaceuticals were worth $756,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ARWR. Fifth Third Bancorp lifted its position in Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 354 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $41,000. Headlands Technologies LLC boosted its position in shares of Arrowhead Pharmaceuticals by 7,696.8% in the 1st quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 2,386 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 4,629.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after buying an additional 3,333 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Arrowhead Pharmaceuticals during the 2nd quarter valued at approximately $96,000. Institutional investors own 62.61% of the company’s stock.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total transaction of $237,480.32. Following the transaction, the insider now owns 127,107 shares in the company, valued at approximately $3,213,264.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday. B. Riley reiterated a “buy” rating and issued a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 3rd. Chardan Capital reiterated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. Finally, StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $19.67 on Friday. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -4.63 and a beta of 0.96. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $19.07 and a 1-year high of $39.83. The business’s fifty day moving average price is $23.76 and its 200-day moving average price is $24.85.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 152.95%. During the same period in the prior year, the company earned ($0.96) EPS. The company’s revenue was down 100.0% compared to the same quarter last year. Equities research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.