Algert Global LLC Sells 3,480 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Algert Global LLC reduced its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,986 shares of the biotechnology company’s stock after selling 3,480 shares during the quarter. Algert Global LLC’s holdings in Arrowhead Pharmaceuticals were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $9,976,000. Avoro Capital Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after acquiring an additional 333,333 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Arrowhead Pharmaceuticals by 232.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after acquiring an additional 204,933 shares during the period. Millennium Management LLC raised its position in shares of Arrowhead Pharmaceuticals by 61.9% during the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after acquiring an additional 202,280 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of Arrowhead Pharmaceuticals by 61.3% in the 3rd quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock valued at $7,770,000 after purchasing an additional 152,476 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ARWR. Sanford C. Bernstein decreased their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 20th. Chardan Capital reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Wednesday. Finally, Citigroup reduced their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.70.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $26.03 on Friday. The stock has a 50-day moving average price of $20.05 and a two-hundred day moving average price of $23.20. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $17.05 and a 1 year high of $39.83. The stock has a market cap of $3.24 billion, a PE ratio of -5.19 and a beta of 0.93. The company has a current ratio of 6.74, a quick ratio of 4.65 and a debt-to-equity ratio of 2.06.

Arrowhead Pharmaceuticals 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.