Affinity Asset Advisors LLC Sells 25,000 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Affinity Asset Advisors LLC decreased its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,000 shares of the biotechnology company's stock after selling 25,000 shares during the quarter. Affinity Asset Advisors LLC owned approximately 0.24% of Arrowhead Pharmaceuticals worth $5,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in 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 valued at $57,426,000 after purchasing an additional 26,171 shares during the period. Norges Bank bought a new stake in Arrowhead Pharmaceuticals in the fourth quarter worth $38,622,000. Charles Schwab Investment Management Inc. lifted its position in Arrowhead Pharmaceuticals by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company's stock valued at $19,133,000 after purchasing an additional 10,785 shares during the last quarter. abrdn plc grew its stake in shares of Arrowhead Pharmaceuticals by 12.2% in the 4th quarter. abrdn plc now owns 450,075 shares of the biotechnology company's stock worth $8,461,000 after buying an additional 48,929 shares in the last quarter. Finally, Privium Fund Management B.V. increased its holdings in shares of Arrowhead Pharmaceuticals by 14.2% in the 4th quarter. Privium Fund Management B.V. now owns 380,586 shares of the biotechnology company's stock worth $7,155,000 after buying an additional 47,230 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ARWR shares. StockNews.com raised Arrowhead Pharmaceuticals to a "sell" rating in a report on Friday, December 20th. B. Riley reaffirmed a "buy" rating and set a $38.00 price target (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Royal Bank of Canada reissued an "outperform" rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report 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 note on Wednesday, February 12th. Finally, Chardan Capital reiterated a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.44.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 133,333 shares of Arrowhead Pharmaceuticals 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 completion of the transaction, the chief executive officer now owns 3,773,802 shares in the company, valued at approximately $64,230,110.04. This trade represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 276,839 shares of company stock worth $4,054,176. 4.30% of the stock is currently owned by corporate insiders.

Arrowhead Pharmaceuticals Stock Down 1.0 %

Shares of ARWR traded down $0.11 during mid-day trading on Friday, reaching $11.24. 2,384,199 shares of the stock traded hands, compared to its average volume of 1,430,582. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -2.17 and a beta of 0.99. The stock has a fifty day simple moving average of $15.25 and a 200 day simple moving average of $18.60. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $9.57 and a 12-month high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.97). Sell-side analysts expect 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.