Victory Capital Management Inc. Buys 16,534 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Victory Capital Management Inc. increased its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 67.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,090 shares of the biotechnology company’s stock after buying an additional 16,534 shares during the period. Victory Capital Management Inc.’s holdings in Arrowhead Pharmaceuticals were worth $1,068,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 16.2% during the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after acquiring an additional 1,731,974 shares during the period. Avoro Capital Advisors LLC lifted its holdings 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 purchasing an additional 7,425,555 shares during the last quarter. Norges Bank bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at $40,451,000. Capital International Investors grew its holdings in Arrowhead Pharmaceuticals by 55.2% in the 4th quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock valued at $39,093,000 after buying an additional 454,631 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Arrowhead Pharmaceuticals by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after buying an additional 30,086 shares during the period. Institutional investors own 62.61% of the company’s stock.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, insider Tracie Oliver sold 9,394 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the sale, the insider now owns 127,107 shares in the company, valued at $3,213,264.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 3rd. The Goldman Sachs Group began coverage on Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price target for the company. Finally, B. Riley restated a “buy” rating and set a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $20.80 on Friday. The business has a fifty day moving average price of $24.78 and a two-hundred day moving average price of $25.44. The stock has a market capitalization of $2.58 billion, a PE ratio of -4.89 and a beta of 0.96. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $19.44 and a fifty-two week high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data 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 net margin of 163.32% and a negative return on equity of 152.95%. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period last year, the business earned ($0.96) earnings per share. As a group, sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -4.31 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.