Wealthfront Advisers LLC Invests $2.06 Million in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Wealthfront Advisers LLC acquired a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 109,566 shares of the biotechnology company's stock, valued at approximately $2,060,000. Wealthfront Advisers LLC owned 0.09% of Arrowhead Pharmaceuticals at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. State Street Corp increased its position in shares of Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company's stock worth $123,083,000 after acquiring an additional 516,569 shares during the period. Geode Capital Management LLC increased its position in shares of Arrowhead Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company's stock worth $57,426,000 after acquiring an additional 26,171 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Arrowhead Pharmaceuticals by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company's stock worth $19,133,000 after acquiring an additional 10,785 shares during the period. abrdn plc increased its position in shares of Arrowhead Pharmaceuticals by 12.2% during the fourth quarter. abrdn plc now owns 450,075 shares of the biotechnology company's stock worth $8,461,000 after acquiring an additional 48,929 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Arrowhead Pharmaceuticals by 2.1% during the fourth quarter. Rhumbline Advisers now owns 380,344 shares of the biotechnology company's stock worth $7,150,000 after acquiring an additional 7,912 shares during the period. Hedge funds and other institutional investors own 62.61% of the company's stock.

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Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR traded up $0.37 during trading hours on Wednesday, hitting $15.47. The company had a trading volume of 1,193,217 shares, compared to its average volume of 1,245,845. 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 $14.23 and a 1-year high of $30.41. The company has a market cap of $2.12 billion, a PE ratio of -2.99 and a beta of 0.92. The business has a 50 day moving average of $18.83 and a 200-day moving average of $20.05.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its quarterly earnings data 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, equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 12,563 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $19.59, for a total transaction of $246,109.17. Following the completion of the transaction, the chief executive officer now directly owns 3,775,772 shares of the company's stock, valued at $73,967,373.48. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Adeoye Y. Olukotun sold 2,850 shares of the stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $20.00, for a total transaction of $57,000.00. Following the completion of the transaction, the director now directly owns 36,740 shares of the company's stock, valued at approximately $734,800. This trade represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,730 shares of company stock worth $5,352,844. Company insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Sanford C. Bernstein lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a "market perform" rating for the company in a research note on Friday, November 29th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a "sell" rating in a research note on Friday, December 20th. B. Riley reiterated a "buy" rating and set a $38.00 target price (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. Citigroup lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Finally, Piper Sandler lowered their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $41.44.

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.