Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Position Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 288,884 shares of the biotechnology company’s stock after selling 2,110 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Arrowhead Pharmaceuticals worth $5,431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp lifted its position in shares of Arrowhead Pharmaceuticals by 8.8% during the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after purchasing an additional 516,569 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Arrowhead Pharmaceuticals by 941.0% during the third quarter. Fisher Asset Management LLC now owns 122,260 shares of the biotechnology company’s stock worth $2,368,000 after buying an additional 110,516 shares during the last quarter. abrdn plc lifted its holdings 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 in the last quarter. Erste Asset Management GmbH acquired a new position in Arrowhead Pharmaceuticals in the 3rd quarter worth $924,000. Finally, Privium Fund Management B.V. lifted its position in shares of Arrowhead Pharmaceuticals by 16.2% in the third quarter. Privium Fund Management B.V. now owns 333,356 shares of the biotechnology company’s stock worth $6,457,000 after purchasing an additional 46,420 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR opened at $17.71 on Tuesday. 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 1-year low of $17.05 and a 1-year high of $36.72. The firm has a market cap of $2.23 billion, a PE ratio of -3.43 and a beta of 0.95. The firm has a fifty day simple moving average of $19.56 and a two-hundred day simple moving average of $20.67.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued 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). On average, equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler reduced their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Sanford C. Bernstein lowered their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Chardan Capital reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Citigroup dropped their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada reiterated 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 issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.44.

Insider Activity

In related news, CFO Kenneth Allen Myszkowski sold 27,167 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $19.83, for a total transaction of $538,721.61. Following the sale, the chief financial officer now directly owns 473,433 shares of the company’s stock, valued at $9,388,176.39. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Waddill sold 3,748 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 44,125 shares in the company, valued at approximately $966,337.50. The trade was a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,432 shares of company stock valued at $2,957,986. 4.30% of the stock is currently owned by insiders.

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.