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

Intech Investment Management LLC bought a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm bought 34,045 shares of the biotechnology company's stock, valued at approximately $659,000.

Several other large investors also recently bought and sold shares of ARWR. Avoro Capital Advisors LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company's stock valued at $231,022,000 after purchasing an additional 333,333 shares during the period. Bank of New York Mellon Corp increased its holdings in Arrowhead Pharmaceuticals by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company's stock worth $28,201,000 after buying an additional 30,086 shares during the period. Millennium Management LLC increased its holdings in Arrowhead Pharmaceuticals by 61.9% in the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company's stock worth $13,755,000 after buying an additional 202,280 shares during the period. abrdn plc raised its position in Arrowhead Pharmaceuticals by 61.3% during the 3rd quarter. abrdn plc now owns 401,146 shares of the biotechnology company's stock worth $7,770,000 after buying an additional 152,476 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at approximately $9,976,000. Hedge funds and other institutional investors own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock traded down $0.12 during trading on Friday, reaching $26.03. The company had a trading volume of 1,899,366 shares, compared to its average volume of 1,726,196. The firm's 50-day simple moving average is $20.16 and its 200 day simple moving average is $23.23. The firm has a market capitalization of $3.24 billion, a PE ratio of -5.19 and a beta of 0.93. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $17.05 and a 1-year high of $39.83. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.65 and a current ratio of 6.74.

Analyst Ratings Changes

ARWR has been the subject of several recent research reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. B. Riley reissued a "buy" rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. 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. Citigroup reduced their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, StockNews.com upgraded Arrowhead Pharmaceuticals to a "sell" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $40.70.

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.