Rhumbline Advisers Grows Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Rhumbline Advisers raised its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,344 shares of the biotechnology company’s stock after buying an additional 7,912 shares during the period. Rhumbline Advisers’ holdings in Arrowhead Pharmaceuticals were worth $7,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth approximately $38,000. Van ECK Associates Corp boosted its position in Arrowhead Pharmaceuticals by 72.3% during the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 1,250 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 788 shares in the last quarter. KBC Group NV grew its holdings in Arrowhead Pharmaceuticals by 45.9% in the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at $149,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the sale, the director now owns 44,125 shares of the company’s stock, valued at $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Richard Anzalone sold 26,712 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.24, for a total transaction of $567,362.88. Following the transaction, the chief executive officer now directly owns 3,688,335 shares in the company, valued at approximately $78,340,235.40. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,432 shares of company stock worth $2,957,986. 4.30% of the stock is currently owned by company insiders.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $19.53 on Wednesday. The business has a 50-day moving average of $19.65 and a two-hundred day moving average of $20.78. The firm has a market capitalization of $2.46 billion, a PE ratio of -3.78 and a beta of 0.95. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $17.05 and a 12 month high of $36.72.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). As a group, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARWR has been the topic of several recent research reports. Citigroup decreased their price objective 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, November 27th. B. Riley reaffirmed a “buy” rating and issued a $38.00 price target (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Piper Sandler cut their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Chardan Capital reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.44.

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.