Thrivent Financial for Lutherans Decreases Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Thrivent Financial for Lutherans reduced its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,206 shares of the biotechnology company’s stock after selling 803 shares during the period. Thrivent Financial for Lutherans’ holdings in Arrowhead Pharmaceuticals were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Avoro Capital Advisors LLC raised its stake 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 purchasing an additional 333,333 shares during the period. Bank of New York Mellon Corp raised its stake in Arrowhead Pharmaceuticals by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after purchasing an additional 30,086 shares during the period. Millennium Management LLC raised its stake in Arrowhead Pharmaceuticals by 61.9% during the second 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 period. abrdn plc raised its stake in Arrowhead Pharmaceuticals by 61.3% during the third quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock worth $7,770,000 after purchasing an additional 152,476 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter worth about $9,976,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Trading Down 11.4 %

Shares of ARWR stock opened at $23.11 on Thursday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The stock has a market capitalization of $2.88 billion, a P/E ratio of -4.80 and a beta of 0.91. The company has a 50 day moving average price of $20.40 and a 200 day moving average price of $23.24. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $39.83.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARWR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Piper Sandler dropped their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Chardan Capital reiterated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 27th. Finally, HC Wainwright lifted their price target on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

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.