T. Rowe Price Investment Management Inc. Reduces Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

T. Rowe Price Investment Management Inc. lessened its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 29.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,507,296 shares of the biotechnology company's stock after selling 1,067,277 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 2.00% of Arrowhead Pharmaceuticals worth $47,138,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ARWR. Franklin Resources Inc. grew its holdings in Arrowhead Pharmaceuticals by 9.4% during the 3rd quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company's stock valued at $373,000 after buying an additional 1,658 shares in the last quarter. Pacer Advisors Inc. grew its stake in Arrowhead Pharmaceuticals by 11.6% during the fourth quarter. Pacer Advisors Inc. now owns 27,918 shares of the biotechnology company's stock valued at $525,000 after acquiring an additional 2,907 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $268,000. Nordea Investment Management AB grew its holdings in Arrowhead Pharmaceuticals by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 132,188 shares of the biotechnology company's stock valued at $2,463,000 after buying an additional 7,776 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $434,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Christopher Richard Anzalone sold 133,333 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were 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 directly owns 3,773,802 shares of the company's stock, valued at approximately $64,230,110.04. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 275,880 shares of company stock worth $4,034,037. 4.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on ARWR shares. Chardan Capital reissued a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. B. Riley restated 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. Royal Bank of Canada restated an "outperform" rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. One 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. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of "Hold" and an average price target of $41.44.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR traded down $0.05 during trading hours on Tuesday, hitting $13.47. 1,112,802 shares of the company were exchanged, compared to its average volume of 1,445,120. The company's 50 day moving average price is $14.27 and its 200-day moving average price is $18.34. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -2.61 and a beta of 0.99. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $9.57 and a 52-week high of $30.41. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results 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 forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

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.