Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 26.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,485 shares of the biotechnology company’s stock after selling 1,278 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Arrowhead Pharmaceuticals were worth $66,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after purchasing an additional 516,569 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $2,264,000. Fisher Asset Management LLC grew its stake in Arrowhead Pharmaceuticals by 941.0% during the 3rd quarter. Fisher Asset Management LLC now owns 122,260 shares of the biotechnology company’s stock worth $2,368,000 after buying an additional 110,516 shares during the last quarter. Pinion Investment Advisors LLC acquired a new position in Arrowhead Pharmaceuticals during the fourth quarter worth approximately $1,410,000. Finally, abrdn plc lifted its stake in Arrowhead Pharmaceuticals by 12.2% in the fourth quarter. abrdn plc now owns 450,075 shares of the biotechnology company’s stock valued at $8,461,000 after buying an additional 48,929 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Down 5.4 %

Shares of NASDAQ:ARWR opened at $13.93 on Thursday. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $13.74 and a fifty-two week high of $30.41. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The firm’s 50-day simple moving average is $18.35 and its 200-day simple moving average is $19.72. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -2.69 and a beta of 0.92.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data 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, equities research analysts predict 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 a number of research reports. Piper Sandler lowered their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Sanford C. Bernstein dropped their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Chardan Capital reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Finally, B. Riley restated a “buy” rating and issued a $38.00 price target (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. 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. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of “Hold” and a consensus target price of $41.44.

Insider Activity at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 133,333 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total value of $2,269,327.66. Following the completion of the transaction, the chief executive officer now directly owns 3,773,802 shares of the company’s stock, valued at $64,230,110.04. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Patrick O’brien sold 29,184 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total value of $578,426.88. Following the sale, the chief operating officer now owns 535,201 shares in the company, valued at approximately $10,607,683.82. The trade was a 5.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 289,167 shares of company stock worth $5,106,735 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

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.