Principal Financial Group Inc. Sells 133,772 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Principal Financial Group Inc. reduced its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 31.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,994 shares of the biotechnology company's stock after selling 133,772 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Arrowhead Pharmaceuticals worth $5,637,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ARWR. Avoro Capital Advisors LLC increased its position in shares of Arrowhead Pharmaceuticals by 657.1% during the 1st quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company's stock valued at $244,689,000 after purchasing an additional 7,425,555 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company's stock valued at $354,756,000 after purchasing an additional 1,731,974 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $9,976,000. Assenagon Asset Management S.A. increased its position in shares of Arrowhead Pharmaceuticals by 232.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company's stock valued at $5,677,000 after purchasing an additional 204,933 shares during the last quarter. Finally, Natixis bought a new position in shares of Arrowhead Pharmaceuticals during the 1st quarter valued at about $5,834,000. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Stock Up 0.6 %

ARWR stock opened at $18.71 on Thursday. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $17.05 and a twelve month high of $39.83. The business has a 50 day moving average of $19.96 and a 200 day moving average of $23.31.

Wall Street Analyst Weigh In

ARWR has been the topic of several recent research reports. StockNews.com upgraded Arrowhead Pharmaceuticals to a "sell" rating in a research report on Tuesday, November 12th. B. Riley restated 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 restated an "outperform" rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. HC Wainwright restated a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One 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's stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $45.33.

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.