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

Seven Eight Capital LP decreased its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 54.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,561 shares of the biotechnology company’s stock after selling 40,663 shares during the period. Seven Eight Capital LP’s holdings in Arrowhead Pharmaceuticals were worth $898,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its position in shares of 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 purchasing an additional 2,405 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Arrowhead Pharmaceuticals during the 2nd quarter worth $1,401,000. Dimensional Fund Advisors LP boosted its position in 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 buying an additional 84,867 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of 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 buying an additional 3,333 shares during the period. Finally, Arizona State Retirement System raised its position 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 acquiring an additional 821 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of analysts recently commented on ARWR shares. Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. B. Riley reissued a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research note 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 objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 3rd. One equities research 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.25.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $20.80 on Friday. Arrowhead Pharmaceuticals, Inc. has a one year low of $19.44 and a one year high of $39.83. The firm has a market cap of $2.58 billion, a P/E ratio of -4.89 and a beta of 0.96. The stock’s 50-day moving average is $24.63 and its 200-day moving average is $25.34.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results 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 return on equity of 152.95% and a negative net margin of 163.32%. The business’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.96) EPS. Equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

Arrowhead Pharmaceuticals Company 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.