Assenagon Asset Management S.A. Has $5.68 Million Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Assenagon Asset Management S.A. raised its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 232.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 293,083 shares of the biotechnology company's stock after buying an additional 204,933 shares during the quarter. Assenagon Asset Management S.A. owned about 0.24% of Arrowhead Pharmaceuticals worth $5,677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ARWR. State of Michigan Retirement System boosted its position in shares of Arrowhead Pharmaceuticals by 18.7% during the first quarter. State of Michigan Retirement System now owns 30,470 shares of the biotechnology company's stock worth $871,000 after buying an additional 4,800 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Arrowhead Pharmaceuticals by 16.1% during the 1st quarter. State of Alaska Department of Revenue now owns 13,437 shares of the biotechnology company's stock worth $384,000 after acquiring an additional 1,860 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Arrowhead Pharmaceuticals by 6.5% in the first quarter. Retirement Systems of Alabama now owns 348,784 shares of the biotechnology company's stock valued at $9,975,000 after purchasing an additional 21,331 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Arrowhead Pharmaceuticals by 67.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 327,782 shares of the biotechnology company's stock worth $9,375,000 after purchasing an additional 131,797 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in Arrowhead Pharmaceuticals by 11.5% during the first quarter. Mutual of America Capital Management LLC now owns 73,826 shares of the biotechnology company's stock worth $2,111,000 after purchasing an additional 7,597 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ARWR shares. HC Wainwright reissued a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Friday, October 11th. Piper Sandler restated an "overweight" rating and issued a $62.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, October 8th. B. Riley reaffirmed a "buy" rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $45.33.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock traded down $0.27 during trading on Wednesday, reaching $19.71. 811,797 shares of the company's stock were exchanged, compared to its average volume of 1,203,633. The firm's 50-day moving average price is $20.85 and its 200 day moving average price is $23.61. The company has a market cap of $2.45 billion, a P/E ratio of -4.64 and a beta of 0.95. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $17.05 and a 1-year high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.80). During the same period in the prior year, the company earned ($0.96) EPS. The business's quarterly revenue was down 100.0% on a year-over-year basis. As a group, equities research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

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.