Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Purchased by abrdn plc

abrdn plc boosted its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 450,075 shares of the biotechnology company's stock after purchasing an additional 48,929 shares during the quarter. abrdn plc owned approximately 0.36% of Arrowhead Pharmaceuticals worth $8,461,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. State Street Corp boosted 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 acquiring an additional 516,569 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Arrowhead Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company's stock worth $57,426,000 after acquiring an additional 26,171 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,006,935 shares of the biotechnology company's stock worth $19,504,000 after acquiring an additional 12,574 shares in the last quarter. Privium Fund Management B.V. boosted its position in shares of Arrowhead Pharmaceuticals by 16.2% during the 3rd quarter. Privium Fund Management B.V. now owns 333,356 shares of the biotechnology company's stock worth $6,457,000 after acquiring an additional 46,420 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Arrowhead Pharmaceuticals by 232.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company's stock valued at $5,677,000 after purchasing an additional 204,933 shares during the period. Hedge funds and other institutional investors own 62.61% of the company's stock.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director William D. Waddill sold 3,748 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the transaction, the director now directly owns 44,125 shares of the company's stock, valued at $966,337.50. This trade represents a 7.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher Richard Anzalone sold 11,520 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total value of $219,456.00. Following the completion of the transaction, the chief executive officer now directly owns 3,764,252 shares of the company's stock, valued at $71,709,000.60. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 147,432 shares of company stock valued at $2,957,986. Corporate insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup decreased their target price 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. StockNews.com raised Arrowhead Pharmaceuticals to a "sell" rating in a research report on Friday, December 20th. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, January 23rd. 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 research report on Friday, November 29th. Finally, Chardan Capital reissued a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. One 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 MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of "Hold" and an average target price of $43.33.

Arrowhead Pharmaceuticals Stock Performance

ARWR traded down $0.32 on Wednesday, hitting $18.57. 1,902,411 shares of the company traded hands, compared to its average volume of 2,351,800. The company has a 50 day moving average of $20.23 and a 200-day moving average of $21.25. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $2.32 billion, a PE ratio of -3.70 and a beta of 0.95. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $17.05 and a 12-month high of $36.72.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its 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). Sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.4 earnings per share for the current year.

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.