Intech Investment Management LLC Boosts Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Intech Investment Management LLC boosted its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 160.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,661 shares of the biotechnology company's stock after purchasing an additional 54,616 shares during the quarter. Intech Investment Management LLC owned approximately 0.07% of Arrowhead Pharmaceuticals worth $1,667,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in Arrowhead Pharmaceuticals by 11.5% during the third quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company's stock valued at $2,401,000 after acquiring an additional 12,706 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth approximately $924,000. Geode Capital Management LLC raised its holdings 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. State Street Corp grew its holdings in shares of Arrowhead Pharmaceuticals by 8.8% in the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company's stock valued at $123,083,000 after purchasing an additional 516,569 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 9.4% in the third quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company's stock valued at $373,000 after purchasing an additional 1,658 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

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Arrowhead Pharmaceuticals Trading Down 5.4 %

Shares of ARWR traded down $0.80 during trading hours on Wednesday, reaching $13.93. 1,700,326 shares of the company traded hands, compared to its average volume of 1,268,159. The stock's fifty day moving average price is $18.45 and its 200 day moving average price is $19.76. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -2.69 and a beta of 0.92. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $13.74 and a 12-month high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings data 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). Sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARWR has been the subject of a number of recent research reports. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a "sell" rating in a report on Friday, December 20th. HC Wainwright reissued a "buy" rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Piper Sandler lowered 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. Citigroup decreased their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $41.44.

Insider Activity at Arrowhead Pharmaceuticals

In other news, COO Patrick O'brien sold 29,184 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $578,426.88. Following the completion of the sale, the chief operating officer now owns 535,201 shares of the company's stock, valued at approximately $10,607,683.82. This represents a 5.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Adeoye Y. Olukotun sold 2,850 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $20.00, for a total transaction of $57,000.00. Following the transaction, the director now owns 36,740 shares in the company, valued at approximately $734,800. This represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 289,167 shares of company stock worth $5,106,735. Company insiders own 4.30% of the company's stock.

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.