US Bancorp DE Sells 4,987 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

US Bancorp DE reduced its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 11.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,123 shares of the biotechnology company’s stock after selling 4,987 shares during the quarter. US Bancorp DE’s holdings in Arrowhead Pharmaceuticals were worth $777,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 354 shares during the last quarter. Headlands Technologies LLC increased its stake in Arrowhead Pharmaceuticals by 7,696.8% in the 1st quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 2,386 shares during the last quarter. Values First Advisors Inc. bought a new position in Arrowhead Pharmaceuticals in the 3rd quarter worth about $52,000. Meeder Asset Management Inc. increased its stake in 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 worth $88,000 after acquiring an additional 3,333 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Arrowhead Pharmaceuticals in the 2nd quarter worth about $96,000. 62.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ARWR shares. Piper Sandler restated an “overweight” rating and issued a $62.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, October 8th. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Friday, October 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Finally, B. Riley reiterated a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR opened at $21.89 on Friday. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $39.83. The stock has a 50 day simple moving average of $20.33 and a two-hundred day simple moving average of $23.48. The stock has a market cap of $2.72 billion, a P/E ratio of -4.69 and a beta of 0.93.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results 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). During the same period in the previous year, the company earned ($0.96) earnings per share. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. Sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current year.

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.