Seven Eight Capital LP Has $898,000 Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Seven Eight Capital LP lowered its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 54.1% during the second quarter, HoldingsChannel reports. The firm owned 34,561 shares of the biotechnology company’s stock after selling 40,663 shares during the quarter. Seven Eight Capital LP’s holdings in Arrowhead Pharmaceuticals were worth $898,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ARWR. Vanguard Personalized Indexing Management LLC increased its holdings in Arrowhead Pharmaceuticals by 23.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,751 shares of the biotechnology company’s stock worth $331,000 after buying an additional 2,405 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth about $1,401,000. Dimensional Fund Advisors LP raised its holdings in shares of Arrowhead Pharmaceuticals by 139.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 145,874 shares of the biotechnology company’s stock valued at $3,791,000 after purchasing an additional 84,867 shares during the period. Meeder Asset Management Inc. lifted its stake in 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 valued at $88,000 after purchasing an additional 3,333 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Arrowhead Pharmaceuticals by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock valued at $901,000 after purchasing an additional 821 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Wall Street Analyst Weigh In

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

Arrowhead Pharmaceuticals Stock Down 1.6 %

Shares of Arrowhead Pharmaceuticals stock opened at $20.80 on Friday. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -4.89 and a beta of 0.96. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $19.44 and a twelve month high of $39.83. The company has a 50-day simple moving average of $24.63 and a two-hundred day simple moving average of $25.34.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results 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 net margin of 163.32% and a negative return on equity of 152.95%. Arrowhead Pharmaceuticals’s revenue was down 100.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.96) earnings per share. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, insider Tracie Oliver sold 9,394 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value of $237,480.32. Following the transaction, 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 can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.

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.