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

Avoro Capital Advisors LLC boosted its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,888,888 shares of the biotechnology company’s stock after purchasing an additional 333,333 shares during the quarter. Arrowhead Pharmaceuticals comprises approximately 3.1% of Avoro Capital Advisors LLC’s holdings, making the stock its 13th largest position. Avoro Capital Advisors LLC owned about 7.16% of Arrowhead Pharmaceuticals worth $231,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Arrowhead Pharmaceuticals by 16.2% in the 1st 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 period. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $40,451,000. Goldman Sachs Group Inc. grew its position in 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 worth $32,496,000 after buying an additional 613,067 shares in the last quarter. Eventide Asset Management LLC bought a new position in Arrowhead Pharmaceuticals during the fourth quarter valued at about $9,587,000. Finally, American International Group Inc. raised its holdings in Arrowhead Pharmaceuticals by 13.4% in the 1st quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock valued at $6,298,000 after acquiring an additional 26,009 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Down 1.6 %

NASDAQ:ARWR opened at $20.80 on Monday. The firm has a market cap of $2.58 billion, a PE ratio of -4.89 and a beta of 0.96. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $19.44 and a 12 month high of $39.83. The company’s 50-day moving average price is $24.63 and its two-hundred day moving average price is $25.21.

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%. During the same period last year, the company earned ($0.96) earnings per share. The company’s revenue was down 100.0% compared to the same quarter last year. On average, research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals 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 completion of the transaction, the insider now directly owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Chardan Capital restated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. Finally, B. Riley reissued a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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.