Envestnet Portfolio Solutions Inc. Buys Shares of 10,080 Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Envestnet Portfolio Solutions Inc. purchased a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,080 shares of the biotechnology company’s stock, valued at approximately $190,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. R Squared Ltd bought a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $38,000. Van ECK Associates Corp grew its holdings in Arrowhead Pharmaceuticals by 72.3% during the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 1,250 shares during the last quarter. KBC Group NV increased its position in 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 period. Quantbot Technologies LP bought a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at $149,000. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $205,000. 62.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 27,167 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.83, for a total transaction of $538,721.61. Following the completion of the transaction, the chief financial officer now owns 473,433 shares in the company, valued at approximately $9,388,176.39. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Richard Anzalone sold 133,333 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $17.02, for a total transaction of $2,269,327.66. Following the sale, the chief executive officer now owns 3,773,802 shares in the company, valued at approximately $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 286,317 shares of company stock worth $5,049,735. Company insiders own 4.30% of the company’s stock.

Arrowhead Pharmaceuticals Stock Up 0.1 %

Shares of NASDAQ:ARWR opened at $13.82 on Friday. The stock has a market capitalization of $1.90 billion, a P/E ratio of -2.67 and a beta of 0.92. The stock’s 50-day moving average price is $18.13 and its 200-day moving average price is $19.62. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $13.66 and a 12-month high of $30.41.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ARWR shares. B. Riley restated a “buy” rating and set a $38.00 price objective (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Sanford C. Bernstein lowered their price target 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. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Chardan Capital reiterated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Hold” and an average price target of $41.44.

Arrowhead Pharmaceuticals 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.