Slate Path Capital LP Purchases 347,000 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Slate Path Capital LP grew its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,232,000 shares of the biotechnology company's stock after acquiring an additional 347,000 shares during the quarter. Arrowhead Pharmaceuticals accounts for approximately 1.8% of Slate Path Capital LP's investment portfolio, making the stock its 24th biggest position. Slate Path Capital LP owned about 4.18% of Arrowhead Pharmaceuticals worth $98,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Avoro Capital Advisors LLC grew its position in shares of Arrowhead Pharmaceuticals by 25.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company's stock worth $208,889,000 after purchasing an additional 2,222,223 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Arrowhead Pharmaceuticals by 314.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 37,792 shares of the biotechnology company's stock valued at $710,000 after buying an additional 28,672 shares during the period. MetLife Investment Management LLC grew its position in Arrowhead Pharmaceuticals by 7.6% during the fourth quarter. MetLife Investment Management LLC now owns 141,011 shares of the biotechnology company's stock worth $2,651,000 after buying an additional 9,982 shares in the last quarter. Marshall Wace LLP bought a new position in Arrowhead Pharmaceuticals during the 4th quarter worth $1,629,000. Finally, Barclays PLC raised its holdings in Arrowhead Pharmaceuticals by 13.0% in the 4th quarter. Barclays PLC now owns 312,560 shares of the biotechnology company's stock valued at $5,876,000 after acquiring an additional 35,950 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Stock Down 0.7 %

ARWR traded down $0.09 during mid-day trading on Friday, reaching $13.25. 862,735 shares of the stock were exchanged, compared to its average volume of 1,443,607. The company has a 50 day moving average price of $14.57 and a two-hundred day moving average price of $18.40. The stock has a market capitalization of $1.82 billion, a PE ratio of -2.56 and a beta of 0.99. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $9.57 and a 1 year high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.97). As a group, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insider Buying and Selling

In related news, CEO Christopher Richard Anzalone sold 133,333 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total value of $2,269,327.66. Following the transaction, the chief executive officer now owns 3,773,802 shares in the company, valued at approximately $64,230,110.04. This represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 275,880 shares of company stock valued at $4,034,037. 4.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ARWR has been the topic of several analyst reports. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. B. Riley reissued a "buy" rating and issued a $38.00 target price (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Chardan Capital restated a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. One equities research 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. According to MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of "Hold" and a consensus price target of $41.44.

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.