nVerses Capital LLC Makes New Investment in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

nVerses Capital LLC purchased a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the second quarter, HoldingsChannel reports. The institutional investor purchased 3,700 shares of the biotechnology company’s stock, valued at approximately $96,000.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its stake in Arrowhead Pharmaceuticals by 42.5% in the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 354 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $41,000. Quest Partners LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at about $45,000. Headlands Technologies LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 7,696.8% during the 1st quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 2,386 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Arrowhead Pharmaceuticals by 22.9% in the fourth quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock worth $73,000 after acquiring an additional 447 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred 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 sale, the insider now owns 127,107 shares in the company, valued at $3,213,264.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on ARWR. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. The Goldman Sachs Group began coverage on Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Thursday, June 20th. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Arrowhead Pharmaceuticals Trading Down 3.9 %

Shares of Arrowhead Pharmaceuticals stock opened at $22.91 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $20.67 and a twelve month high of $39.83. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -5.39 and a beta of 0.94. The company has a fifty day moving average price of $25.84 and a 200 day moving average price of $26.19.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. During the same period in the previous year, the company posted ($0.96) earnings per share. Arrowhead Pharmaceuticals’s quarterly revenue was down 100.0% compared to the same quarter last year. Analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -4.02 earnings per share 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.