Arrowhead Pharmaceuticals, Inc. $ARWR Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 23.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,273,266 shares of the biotechnology company’s stock after acquiring an additional 244,530 shares during the period. Pictet Asset Management Holding SA’s holdings in Arrowhead Pharmaceuticals were worth $79,612,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ARWR. Avoro Capital Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 2.8% during the 3rd quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock valued at $375,941,000 after purchasing an additional 300,000 shares during the period. Geode Capital Management LLC increased its stake in shares of Arrowhead Pharmaceuticals by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock valued at $216,799,000 after purchasing an additional 133,921 shares during the period. Baker BROS. Advisors LP increased its stake in shares of Arrowhead Pharmaceuticals by 30.2% in the fourth quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock valued at $144,441,000 after purchasing an additional 504,883 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Arrowhead Pharmaceuticals by 0.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock valued at $138,619,000 after buying an additional 6,264 shares during the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 497.4% during the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after buying an additional 1,526,164 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, CFO Daniel Joseph Apel sold 13,095 shares of the company’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the sale, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at $11,623,271.75. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the transaction, the insider owned 226,958 shares of the company’s stock, valued at $17,021,850. This trade represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 26,065 shares of company stock valued at $1,912,662 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ARWR shares. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, March 25th. Weiss Ratings lowered shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Leerink Partners lifted their price target on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, June 17th. Morgan Stanley raised Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $78.00 to $100.00 in a research note on Tuesday, April 21st. Finally, Sanford C. Bernstein raised their target price on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.36.

Arrowhead Pharmaceuticals Stock Up 2.0%

ARWR stock opened at $80.50 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $14.30 and a 12 month high of $84.55. The firm has a market cap of $11.34 billion, a PE ratio of -37.44 and a beta of 1.28. The firm has a 50 day simple moving average of $75.85 and a 200 day simple moving average of $68.42. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. The firm had revenue of $73.74 million during the quarter, compared to analysts’ expectations of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The firm’s revenue for the quarter was down 86.4% compared to the same quarter last year. During the same period last year, the firm posted $2.75 earnings per share. Equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals Company Profile

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.