Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 81.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,013 shares of the biotechnology company’s stock after selling 240,070 shares during the period. Assenagon Asset Management S.A.’s holdings in Arrowhead Pharmaceuticals were worth $997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Arrowhead Pharmaceuticals by 8.8% in the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after buying an additional 516,569 shares during the period. Squarepoint Ops LLC bought a new stake in Arrowhead Pharmaceuticals in the second quarter worth about $9,976,000. Millennium Management LLC lifted its holdings in Arrowhead Pharmaceuticals by 61.9% in the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after acquiring an additional 202,280 shares during the last quarter. abrdn plc boosted its position in shares of Arrowhead Pharmaceuticals by 61.3% during 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 in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Arrowhead Pharmaceuticals by 941.0% in the 3rd quarter. Fisher Asset Management LLC now owns 122,260 shares of the biotechnology company’s stock worth $2,368,000 after purchasing an additional 110,516 shares during the last quarter. 62.61% of the stock is owned by institutional investors.

Insider Activity

In related news, insider James C. Hamilton sold 32,729 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $19.82, for a total value of $648,688.78. Following the transaction, the insider now owns 272,122 shares in the company, valued at approximately $5,393,458.04. This represents a 10.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William D. Waddill sold 3,748 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $21.90, for a total transaction of $82,081.20. Following the transaction, the director now directly owns 44,125 shares in the company, valued at approximately $966,337.50. The trade was a 7.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,473 shares of company stock worth $2,937,847 in the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Sanford C. Bernstein reduced their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Piper Sandler decreased their target price on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Citigroup dropped their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.33.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $20.76 on Friday. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $17.05 and a 52 week high of $36.72. 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 company has a market capitalization of $2.58 billion, a PE ratio of -4.14 and a beta of 0.97. The company’s 50 day moving average price is $20.73 and its 200 day moving average price is $22.04.

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.