Rhumbline Advisers Increases Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Rhumbline Advisers grew its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 380,344 shares of the biotechnology company’s stock after buying an additional 7,912 shares during the quarter. Rhumbline Advisers owned 0.31% of Arrowhead Pharmaceuticals worth $7,150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its position in shares of Arrowhead Pharmaceuticals by 72.3% in the fourth 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 in the last quarter. Empowered Funds LLC acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at about $268,000. abrdn plc increased its stake in Arrowhead Pharmaceuticals by 12.2% during the fourth quarter. abrdn plc now owns 450,075 shares of the biotechnology company’s stock worth $8,461,000 after acquiring an additional 48,929 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Arrowhead Pharmaceuticals by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,385 shares of the biotechnology company’s stock valued at $496,000 after buying an additional 2,475 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ARWR shares. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Piper Sandler dropped their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Sanford C. Bernstein decreased their target price on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Citigroup lowered their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. One investment 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 MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $41.44.

Insiders Place Their Bets

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 value of $82,081.20. Following the transaction, the director now directly owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. The trade was a 7.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James C. Hamilton sold 32,729 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 272,122 shares of the company’s stock, valued at $5,393,458.04. This trade represents a 10.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,432 shares of company stock valued at $2,957,986. 4.30% of the stock is owned by company insiders.

Arrowhead Pharmaceuticals Stock Up 3.6 %

Shares of NASDAQ:ARWR opened at $19.53 on Wednesday. The firm has a 50 day simple moving average of $19.65 and a 200-day simple moving average of $20.78. 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 twelve month low of $17.05 and a twelve month high of $36.72. The company has a market capitalization of $2.46 billion, a PE ratio of -3.78 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its 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 predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

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.