Edgestream Partners L.P. Invests $1.40 Million in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Edgestream Partners L.P. acquired a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 53,918 shares of the biotechnology company’s stock, valued at approximately $1,401,000.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 354 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $41,000. Quest Partners LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $45,000. Headlands Technologies LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 7,696.8% in 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, Meeder Asset Management Inc. increased its holdings in shares of Arrowhead Pharmaceuticals by 4,629.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 3,333 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $20.80 on Friday. The firm has a market cap of $2.58 billion, a PE ratio of -4.89 and a beta of 0.96. The firm’s 50 day moving average price is $24.78 and its 200 day moving average price is $25.44. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $19.44 and a twelve month high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm earned ($0.96) earnings per share. Arrowhead Pharmaceuticals’s revenue was down 100.0% on a year-over-year basis. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, insider Tracie Oliver sold 9,394 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 127,107 shares in the company, valued at $3,213,264.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Arrowhead Pharmaceuticals Company 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.