Edgestream Partners L.P. Takes $2.26 Million Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Edgestream Partners L.P. bought a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 120,411 shares of the biotechnology company's stock, valued at approximately $2,264,000. Edgestream Partners L.P. owned about 0.10% of Arrowhead Pharmaceuticals at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in Arrowhead Pharmaceuticals by 8.8% during the third 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 period. Geode Capital Management LLC grew its stake in Arrowhead Pharmaceuticals by 0.9% in 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 buying an additional 26,171 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Arrowhead Pharmaceuticals by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company's stock valued at $19,133,000 after acquiring an additional 10,785 shares during the period. abrdn plc lifted its position 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 during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Arrowhead Pharmaceuticals by 2.1% during the fourth quarter. Rhumbline Advisers now owns 380,344 shares of the biotechnology company's stock worth $7,150,000 after acquiring an additional 7,912 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 133,333 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total value of $2,269,327.66. Following the completion of the sale, the chief executive officer now directly owns 3,773,802 shares in the company, valued at $64,230,110.04. This represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William D. Waddill sold 3,748 shares of Arrowhead Pharmaceuticals stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the transaction, the director now directly owns 44,125 shares in the company, valued at $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 three months, insiders sold 280,765 shares of company stock worth $5,227,313. 4.30% of the stock is currently owned by insiders.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock traded down $0.70 during midday trading on Thursday, hitting $15.07. 1,192,956 shares of the company traded hands, compared to its average volume of 1,982,388. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -2.91 and a beta of 0.92. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09. The firm's fifty day moving average price is $19.18 and its 200-day moving average price is $20.32. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $14.23 and a 12 month high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.97). As a group, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein lowered their target price on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a "market perform" rating on the stock in a research note on Friday, November 29th. Chardan Capital reissued a "buy" rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Royal Bank of Canada reissued an "outperform" rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. Finally, StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a "sell" rating in a research report on Friday, December 20th. One investment 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.com, Arrowhead Pharmaceuticals presently has a consensus rating of "Hold" and a consensus price target of $41.44.

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.