Federated Hermes Inc. Lowers Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Federated Hermes Inc. cut its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 51.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,201 shares of the biotechnology company’s stock after selling 7,537 shares during the period. Federated Hermes Inc.’s holdings in Arrowhead Pharmaceuticals were worth $187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Avoro Capital Advisors LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 657.1% during the first quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock valued at $244,689,000 after purchasing an additional 7,425,555 shares during the last quarter. Vanguard Group Inc. lifted 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 valued at $354,756,000 after purchasing an additional 1,731,974 shares during the last quarter. Norges Bank purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $40,451,000. Goldman Sachs Group Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 136.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock valued at $32,496,000 after purchasing an additional 613,067 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Arrowhead Pharmaceuticals by 55.2% during the fourth quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock valued at $39,093,000 after purchasing an additional 454,631 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other news, insider Tracie Oliver sold 9,394 shares of the firm’s stock in a transaction 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 directly owns 127,107 shares in the company, valued at approximately $3,213,264.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 0.7 %

ARWR opened at $20.14 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $19.44 and a 1-year high of $39.83. The company has a market capitalization of $2.50 billion, a PE ratio of -4.74 and a beta of 0.96. The firm’s 50 day simple moving average is $24.27 and its two-hundred day simple moving average is $25.02.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) EPS 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 for the quarter was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.96) EPS. Equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals 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.