Avoro Capital Advisors LLC Has $231.02 Million Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Avoro Capital Advisors LLC increased its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 3.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 8,888,888 shares of the biotechnology company’s stock after purchasing an additional 333,333 shares during the quarter. Arrowhead Pharmaceuticals accounts for 3.1% of Avoro Capital Advisors LLC’s portfolio, making the stock its 13th biggest position. Avoro Capital Advisors LLC owned 0.07% of Arrowhead Pharmaceuticals worth $231,022,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ARWR. Fifth Third Bancorp raised its position in shares of Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 354 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Arrowhead Pharmaceuticals by 2.4% during the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after purchasing an additional 821 shares during the period. Securian Asset Management Inc. increased its holdings in Arrowhead Pharmaceuticals by 12.5% in the first quarter. Securian Asset Management Inc. now owns 10,100 shares of the biotechnology company’s stock valued at $289,000 after purchasing an additional 1,121 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Arrowhead Pharmaceuticals by 3.7% in the second quarter. Commonwealth Equity Services LLC now owns 34,663 shares of the biotechnology company’s stock valued at $901,000 after buying an additional 1,250 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at about $41,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $20.80 on Monday. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $19.44 and a 52 week high of $39.83. The company has a 50-day simple moving average of $24.63 and a 200 day simple moving average of $25.21. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -4.89 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced 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 business’s revenue was down 100.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.96) earnings per share. Sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. B. Riley reissued a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Chardan Capital reissued a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 3rd. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. 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. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, insider Tracie Oliver sold 9,394 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the transaction, the insider now directly owns 127,107 shares of the company’s stock, valued at approximately $3,213,264.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.50% of the stock is currently owned by company 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.