Scientech Research LLC Sells 7,388 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Scientech Research LLC trimmed its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 48.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,842 shares of the biotechnology company’s stock after selling 7,388 shares during the period. Scientech Research LLC’s holdings in Arrowhead Pharmaceuticals were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Arrowhead Pharmaceuticals by 16.2% during the 1st 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 during the last quarter. Avoro Capital Advisors LLC increased its stake in Arrowhead Pharmaceuticals by 3.9% in the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after buying an additional 333,333 shares during the last quarter. Capital International Investors boosted its stake in shares of Arrowhead Pharmaceuticals by 55.2% in the 4th quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock worth $39,093,000 after buying an additional 454,631 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Arrowhead Pharmaceuticals by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock valued at $28,201,000 after acquiring an additional 30,086 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of 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 valued at $32,496,000 after acquiring an additional 613,067 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $19.18 on Wednesday. The company’s 50 day simple moving average is $23.38 and its two-hundred day simple moving average is $24.70. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $18.15 and a 1 year high of $39.83. The stock has a market capitalization of $2.38 billion, a PE ratio of -4.51 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business posted ($0.96) EPS. Arrowhead Pharmaceuticals’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ARWR shares. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. The Goldman Sachs Group initiated coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price target for the company. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. Chardan Capital reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 3rd. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.25.

Arrowhead Pharmaceuticals 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.