Victory Capital Management Inc. Reduces Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Victory Capital Management Inc. trimmed its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 42.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,737 shares of the biotechnology company’s stock after selling 16,514 shares during the quarter. Victory Capital Management Inc.’s holdings in Arrowhead Pharmaceuticals were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter worth $38,000. Van ECK Associates Corp boosted its stake in Arrowhead Pharmaceuticals by 72.3% during the fourth 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 during the period. KBC Group NV boosted its stake in Arrowhead Pharmaceuticals by 45.9% during the fourth 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 during the period. Quantbot Technologies LP purchased a new position in Arrowhead Pharmaceuticals during the third quarter worth $149,000. Finally, First Citizens Bank & Trust Co. purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter worth $205,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 51,425 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $15.07, for a total value of $774,974.75. Following the completion of the transaction, the chief executive officer now directly owns 4,062,377 shares in the company, valued at approximately $61,220,021.39. The trade was a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,850 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $20.00, for a total transaction of $57,000.00. Following the completion of the transaction, the director now owns 36,740 shares of the company’s stock, valued at $734,800. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 301,730 shares of company stock worth $5,352,844. 4.30% of the stock is owned by corporate insiders.

Arrowhead Pharmaceuticals Stock Down 2.1 %

NASDAQ:ARWR opened at $14.80 on Friday. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $14.23 and a 1-year high of $30.41. The company has a 50-day moving average of $18.58 and a 200 day moving average of $19.90. The firm has a market cap of $2.03 billion, a PE ratio of -2.86 and a beta of 0.92. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data 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, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Sanford C. Bernstein lowered their target price on shares of 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. Citigroup lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Hold” and a consensus price target 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.