KLP Kapitalforvaltning AS Purchases New Shares in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

KLP Kapitalforvaltning AS acquired a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,100 shares of the biotechnology company’s stock, valued at approximately $434,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth about $38,000. Van ECK Associates Corp increased its stake 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 buying an additional 1,250 shares in the last quarter. KBC Group NV increased its stake in Arrowhead Pharmaceuticals by 45.9% during the 4th quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock worth $98,000 after buying an additional 1,644 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Arrowhead Pharmaceuticals during the third quarter valued at approximately $149,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $190,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Down 11.4 %

NASDAQ:ARWR opened at $10.68 on Friday. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $10.66 and a 52 week high of $30.41. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The stock’s fifty day moving average is $17.31 and its two-hundred day moving average is $19.32. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -2.07 and a beta of 0.92.

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

Insider Transactions at Arrowhead Pharmaceuticals

In other news, CEO Christopher Richard Anzalone sold 133,333 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was 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 of the company’s stock, valued at approximately $64,230,110.04. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James C. Hamilton sold 32,729 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $648,688.78. Following the completion of the transaction, the insider now directly owns 272,122 shares of the company’s stock, valued at $5,393,458.04. This trade represents a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 274,797 shares of company stock valued at $4,830,279. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ARWR shares. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Chardan Capital reissued a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. B. Riley reaffirmed a “buy” rating and issued a $38.00 price target (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.44.

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.