Van ECK Associates Corp Raises Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Van ECK Associates Corp raised its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 72.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,978 shares of the biotechnology company’s stock after purchasing an additional 1,250 shares during the quarter. Van ECK Associates Corp’s holdings in Arrowhead Pharmaceuticals were worth $56,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ARWR. R Squared Ltd purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 788 shares in the last quarter. KBC Group NV lifted its holdings in Arrowhead Pharmaceuticals by 45.9% during the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 1,644 shares in the last quarter. Quantbot Technologies LP purchased a new position in Arrowhead Pharmaceuticals during the third quarter valued at approximately $149,000. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth $205,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $19.90 on Monday. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $17.05 and a 52-week high of $36.72. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -3.85 and a beta of 0.95. The firm’s fifty day moving average is $19.77 and its 200 day moving average is $20.86.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). Sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ARWR shares. Piper Sandler lowered their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Sanford C. Bernstein lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Citigroup lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.44.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of the business’s stock in a transaction 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 owns 44,125 shares in the company, valued at $966,337.50. The trade was a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James C. Hamilton sold 32,729 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $648,688.78. Following the completion of the transaction, the insider now owns 272,122 shares in the company, valued at approximately $5,393,458.04. The trade was a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,432 shares of company stock worth $2,957,986 over the last quarter. Insiders own 4.30% of the company’s stock.

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.