Assenagon Asset Management S.A. Reduces Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Assenagon Asset Management S.A. lessened its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 81.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,013 shares of the biotechnology company's stock after selling 240,070 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Arrowhead Pharmaceuticals were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ARWR. Values First Advisors Inc. bought a new stake in shares of Arrowhead Pharmaceuticals in the 3rd quarter worth $52,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company's stock valued at $88,000 after acquiring an additional 788 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter valued at about $149,000. Quarry LP raised its holdings in shares of Arrowhead Pharmaceuticals by 54.5% during the second quarter. Quarry LP now owns 8,500 shares of the biotechnology company's stock valued at $221,000 after purchasing an additional 3,000 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Arrowhead Pharmaceuticals by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company's stock valued at $279,000 after purchasing an additional 980 shares during the period. Institutional investors own 62.61% of the company's stock.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 11,520 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $19.05, for a total value of $219,456.00. Following the transaction, the chief executive officer now owns 3,764,252 shares of the company's stock, valued at $71,709,000.60. This represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James C. Hamilton sold 32,729 shares of Arrowhead Pharmaceuticals stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $648,688.78. Following the sale, the insider now owns 272,122 shares of the company's stock, valued at $5,393,458.04. The trade was a 10.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,473 shares of company stock worth $2,937,847 over the last 90 days. 4.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ARWR has been the subject of several research analyst reports. Citigroup cut their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, November 27th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday. Chardan Capital reiterated a "buy" rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. StockNews.com upgraded Arrowhead Pharmaceuticals to a "sell" rating in a research report on Friday, December 20th. Finally, Piper Sandler cut their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, November 27th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $43.33.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock traded down $0.77 during midday trading on Friday, reaching $20.76. 23,744,831 shares of the stock traded hands, compared to its average volume of 1,200,416. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $17.05 and a 12 month high of $36.72. The stock's fifty day moving average is $20.73 and its 200-day moving average is $22.01. The stock has a market cap of $2.58 billion, a P/E ratio of -4.14 and a beta of 0.97.

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.