Bank of New York Mellon Corp Sells 36,341 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Bank of New York Mellon Corp lessened its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 830,058 shares of the biotechnology company’s stock after selling 36,341 shares during the period. Bank of New York Mellon Corp owned about 0.66% of Arrowhead Pharmaceuticals worth $15,605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $38,000. Van ECK Associates Corp lifted its stake in shares of Arrowhead Pharmaceuticals by 72.3% in the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 1,250 shares during the last quarter. KBC Group NV lifted its stake in shares of Arrowhead Pharmaceuticals by 45.9% in the 4th quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 1,644 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at about $149,000. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $205,000. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Down 1.0 %

ARWR stock opened at $15.06 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $14.23 and a fifty-two week high of $30.41. The business’s 50 day moving average price is $19.24 and its two-hundred day moving average price is $20.35. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -2.91 and a beta of 0.92.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results 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). As a group, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Piper Sandler reduced their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Citigroup reduced their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $41.44.

Insiders Place Their Bets

In related news, Director William D. Waddill sold 3,748 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the sale, the director now owns 44,125 shares in the company, valued at $966,337.50. This represents a 7.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher Richard Anzalone sold 133,333 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total value of $2,269,327.66. Following the completion of the sale, the chief executive officer now owns 3,773,802 shares in the company, valued at $64,230,110.04. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,765 shares of company stock worth $5,227,313. Company 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.