Principal Financial Group Inc. Has $5.64 Million Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Principal Financial Group Inc. lowered its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 31.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,994 shares of the biotechnology company’s stock after selling 133,772 shares during the period. Principal Financial Group Inc. owned about 0.23% of Arrowhead Pharmaceuticals worth $5,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 1,731,974 shares during the last quarter. Avoro Capital Advisors LLC increased its holdings in Arrowhead Pharmaceuticals by 3.9% during the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after buying an additional 333,333 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Arrowhead Pharmaceuticals by 2.9% in the 2nd 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 during the period. Millennium Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 61.9% during the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after purchasing an additional 202,280 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of Arrowhead Pharmaceuticals by 61.3% in the 3rd quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock valued at $7,770,000 after purchasing an additional 152,476 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $18.71 on Thursday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $17.05 and a 52-week high of $39.83. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -4.01 and a beta of 0.93. The business’s fifty day moving average is $19.96 and its 200-day moving average is $23.31.

Wall Street Analyst Weigh In

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

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.