53,918 Shares in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 53,918 shares of the biotechnology company’s stock, valued at approximately $1,401,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARWR. Avoro Capital Advisors LLC increased its position in 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 worth $244,689,000 after purchasing an additional 7,425,555 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Arrowhead Pharmaceuticals by 16.2% in the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after acquiring an additional 1,731,974 shares in the last quarter. Norges Bank acquired a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $40,451,000. Goldman Sachs Group Inc. increased its position in shares of Arrowhead Pharmaceuticals by 136.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after acquiring an additional 613,067 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Arrowhead Pharmaceuticals by 55.2% in the fourth quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock worth $39,093,000 after acquiring an additional 454,631 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $20.80 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $19.44 and a 12 month high of $39.83. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -4.89 and a beta of 0.96. The company’s fifty day moving average price is $24.78 and its two-hundred day moving average price is $25.44.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) EPS 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%. During the same quarter in the prior year, the company earned ($0.96) EPS. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. As a group, analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other 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 in the company, valued at approximately $3,213,264.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.