Federated Hermes Inc. Reduces Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Federated Hermes Inc. decreased its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 51.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ARWR. Avoro Capital Advisors LLC lifted its stake in Arrowhead Pharmaceuticals by 657.1% in 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 stake in Arrowhead Pharmaceuticals by 16.2% in 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 Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $40,451,000. Goldman Sachs Group Inc. lifted its stake in 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 valued at $32,496,000 after purchasing an additional 613,067 shares during the last quarter. Finally, Capital International Investors lifted its stake in Arrowhead Pharmaceuticals by 55.2% in 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. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Insider Activity at Arrowhead Pharmaceuticals

In related news, insider Tracie Oliver sold 9,394 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value of $237,480.32. Following the transaction, the insider now owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Arrowhead Pharmaceuticals Stock Up 0.7 %

ARWR opened at $20.14 on Wednesday. The stock has a market cap of $2.50 billion, a PE ratio of -4.74 and a beta of 0.96. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $19.44 and a 52 week high of $39.83. The business’s fifty day simple moving average is $24.27 and its 200 day simple moving average is $25.02.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results 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%. Arrowhead Pharmaceuticals’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.96) earnings per share. As a group, equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share 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.