Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 17.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,292 shares of the biotechnology company’s stock after selling 8,684 shares during the period. Exchange Traded Concepts LLC’s holdings in Arrowhead Pharmaceuticals were worth $780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Avoro Capital Advisors LLC grew its stake in Arrowhead Pharmaceuticals by 657.1% during the 1st quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock worth $244,689,000 after buying an additional 7,425,555 shares during the last quarter. Vanguard Group Inc. grew its stake in Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after buying an additional 1,731,974 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Arrowhead Pharmaceuticals by 136.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after buying an additional 613,067 shares during the last quarter. Squarepoint Ops LLC bought a new position in Arrowhead Pharmaceuticals during the 2nd quarter worth $9,976,000. Finally, Natixis bought a new position in Arrowhead Pharmaceuticals during the 1st quarter worth $5,834,000. 62.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ARWR shares. Piper Sandler restated an “overweight” rating and set a $62.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Chardan Capital reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.33.

Arrowhead Pharmaceuticals Stock Down 1.2 %

Shares of NASDAQ ARWR opened at $20.84 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $17.05 and a 12 month high of $39.83. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -4.90 and a beta of 0.95. The business has a fifty day simple moving average of $21.40 and a 200-day simple moving average of $23.99.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.80). During the same quarter last year, the firm earned ($0.96) earnings per share. Arrowhead Pharmaceuticals’s quarterly revenue was down 100.0% on a year-over-year basis. As a group, sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current fiscal year.

Arrowhead Pharmaceuticals Company Profile

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.