Comerica Bank Reduces Stock Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Comerica Bank lowered its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 20.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,183 shares of the biotechnology company’s stock after selling 7,777 shares during the quarter. Comerica Bank’s holdings in Arrowhead Pharmaceuticals were worth $2,070,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its position in Arrowhead Pharmaceuticals by 253.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,028,736 shares of the biotechnology company’s stock valued at $68,636,000 after buying an additional 737,713 shares during the period. UBS Group AG lifted its position in shares of Arrowhead Pharmaceuticals by 7.5% in the 4th quarter. UBS Group AG now owns 987,287 shares of the biotechnology company’s stock worth $65,546,000 after purchasing an additional 69,104 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $1,816,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Arrowhead Pharmaceuticals by 5.6% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 34,787 shares of the biotechnology company’s stock worth $2,310,000 after purchasing an additional 1,832 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Arrowhead Pharmaceuticals by 6.8% in the 4th quarter. Arizona State Retirement System now owns 34,883 shares of the biotechnology company’s stock worth $2,316,000 after purchasing an additional 2,222 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, March 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. Chardan Capital raised their target price on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Finally, The Goldman Sachs Group raised their target price on shares of Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $84.20.

Arrowhead Pharmaceuticals Trading Up 5.6%

Shares of NASDAQ ARWR opened at $79.14 on Thursday. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $12.44 and a 1 year high of $79.48. The stock has a market cap of $11.08 billion, a P/E ratio of 51.73 and a beta of 1.28. The firm has a 50-day moving average of $64.02 and a 200 day moving average of $60.07. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.38 and a quick ratio of 3.38.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The business had revenue of $264.03 million for the quarter, compared to analysts’ expectations of $225.66 million. During the same period last year, the business earned ($1.39) earnings per share. The company’s revenue was up 10461.3% on a year-over-year basis. As a group, sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.37 EPS for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, CFO Daniel Joseph Apel sold 13,095 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the transaction, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at $11,623,271.75. This trade represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James C. Hamilton sold 10,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the transaction, the insider directly owned 226,958 shares of the company’s stock, valued at approximately $17,021,850. This trade represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 33,095 shares of company stock valued at $2,326,228. 3.60% of the stock is currently owned by corporate insiders.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.