Vanguard Group Inc. Sells 186,239 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Vanguard Group Inc. reduced its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,672,076 shares of the biotechnology company’s stock after selling 186,239 shares during the period. Vanguard Group Inc. owned about 8.61% of Arrowhead Pharmaceuticals worth $326,566,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Washington Trust Advisors Inc. purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter worth $25,000. Neo Ivy Capital Management bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $41,000. Quest Partners LLC purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at about $45,000. Friedenthal Financial bought a new position in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $51,000. Finally, Van ECK Associates Corp increased its stake in Arrowhead Pharmaceuticals by 22.9% in the 4th quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 447 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ARWR. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Thursday, June 20th. Chardan Capital reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday. Morgan Stanley lowered their price objective on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, May 13th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, June 11th. Finally, The Goldman Sachs Group began coverage on Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.89.

Insiders Place Their Bets

In other news, Director Victoria Vakiener sold 1,799 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $41,934.69. Following the sale, the director now directly owns 30,205 shares of the company’s stock, valued at approximately $704,078.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $25.99 on Friday. The firm has a market capitalization of $3.23 billion, a P/E ratio of -6.12 and a beta of 0.94. The stock has a 50 day moving average price of $24.42 and a 200-day moving average price of $28.34. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $20.67 and a 52-week high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. On average, equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.05 EPS for the current fiscal 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.