HighTower Advisors LLC Trims Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

HighTower Advisors LLC reduced its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,056 shares of the biotechnology company's stock after selling 48,421 shares during the period. HighTower Advisors LLC owned 0.06% of Arrowhead Pharmaceuticals worth $1,411,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC bought a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $659,000. Erste Asset Management GmbH purchased a new stake in Arrowhead Pharmaceuticals in the third quarter worth $924,000. Geode Capital Management LLC grew its stake in Arrowhead Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company's stock worth $57,426,000 after purchasing an additional 26,171 shares during the period. State Street Corp raised its holdings in Arrowhead Pharmaceuticals by 8.8% in 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 in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 9.4% during the 3rd quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company's stock valued at $373,000 after buying an additional 1,658 shares in the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Arrowhead Pharmaceuticals Stock Up 0.1 %

ARWR traded up $0.02 during trading on Friday, hitting $13.82. 974,317 shares of the company's stock traded hands, compared to its average volume of 1,335,901. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -2.67 and a beta of 0.92. The company's 50 day simple moving average is $18.24 and its two-hundred day simple moving average is $19.68. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $13.66 and a 12-month high of $30.41. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.97). Analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ARWR has been the subject of several research reports. Sanford C. Bernstein decreased their price target 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. HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. B. Riley reaffirmed a "buy" rating and set a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Finally, Chardan Capital reiterated a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $41.44.

Insider Activity

In other news, CEO Christopher Richard Anzalone sold 11,520 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $19.05, for a total transaction of $219,456.00. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Patrick O'brien sold 29,184 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total value of $578,426.88. Following the completion of the transaction, the chief operating officer now owns 535,201 shares in the company, valued at approximately $10,607,683.82. This trade represents a 5.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 286,317 shares of company stock valued at $5,049,735 in the last 90 days. 4.30% of the stock is currently owned by insiders.

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.