Victory Capital Management Inc. Has $760,000 Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Victory Capital Management Inc. cut its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,251 shares of the biotechnology company’s stock after selling 1,839 shares during the quarter. Victory Capital Management Inc.’s holdings in Arrowhead Pharmaceuticals were worth $760,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Avoro Capital Advisors LLC increased its position 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 acquiring an additional 333,333 shares in the last quarter. Bank of New York Mellon Corp increased 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 purchasing an additional 30,086 shares in the last quarter. Millennium Management LLC raised its position in Arrowhead Pharmaceuticals by 61.9% in 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. abrdn plc lifted its holdings in Arrowhead Pharmaceuticals by 61.3% during the 3rd quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock worth $7,770,000 after buying an additional 152,476 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in Arrowhead Pharmaceuticals in the 2nd quarter valued at $9,976,000. 62.61% of the stock is owned by institutional investors.

Arrowhead Pharmaceuticals Stock Up 24.2 %

Shares of ARWR stock opened at $26.15 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $17.05 and a 12-month high of $39.83. The firm has a fifty day moving average of $19.95 and a 200-day moving average of $23.18. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -5.60 and a beta of 0.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. Citigroup cut their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday. B. Riley reaffirmed a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $42.56.

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.