Resona Asset Management Co. Ltd. acquired a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,292 shares of the biotechnology company's stock, valued at approximately $420,000.
Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $38,622,000. State Street Corp lifted its stake 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 during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $2,264,000. Wealthfront Advisers LLC bought a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $2,060,000. Finally, King Luther Capital Management Corp purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter worth approximately $1,447,000. 62.61% of the stock is currently owned by institutional investors.
Insider Activity at Arrowhead Pharmaceuticals
In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 51,425 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $15.07, for a total transaction of $774,974.75. Following the sale, the chief executive officer now owns 4,062,377 shares in the company, valued at approximately $61,220,021.39. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 276,839 shares of company stock valued at $4,054,176 in the last three months. 4.30% of the stock is owned by insiders.
Arrowhead Pharmaceuticals Stock Up 4.3 %
Shares of NASDAQ:ARWR traded up $0.53 during trading on Tuesday, reaching $12.87. The stock had a trading volume of 1,827,661 shares, compared to its average volume of 1,411,155. 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 company has a market capitalization of $1.77 billion, a P/E ratio of -2.49 and a beta of 0.99. The firm's 50-day simple moving average is $15.91 and its 200 day simple moving average is $18.80. Arrowhead Pharmaceuticals, Inc. has a one year low of $9.57 and a one year high of $30.41.
Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings results 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). As a group, research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ARWR has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Chardan Capital reissued a "buy" rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a "sell" rating in a research report on Friday, December 20th. Finally, B. Riley reiterated a "buy" rating and issued a $38.00 price target (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of "Hold" and a consensus price target of $41.44.
Read Our Latest Stock Report on ARWR
Arrowhead Pharmaceuticals Company Profile
(
Free Report)
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.
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