Avoro Capital Advisors LLC Trims Stake in Arrowhead Pharmaceuticals, Inc. $ARWR

Avoro Capital Advisors LLC cut its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 2.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,625,000 shares of the biotechnology company’s stock after selling 275,000 shares during the period. Arrowhead Pharmaceuticals comprises about 6.8% of Avoro Capital Advisors LLC’s holdings, making the stock its 6th largest holding. Avoro Capital Advisors LLC owned approximately 0.08% of Arrowhead Pharmaceuticals worth $705,394,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CWM LLC boosted its stake in Arrowhead Pharmaceuticals by 1.4% in the fourth quarter. CWM LLC now owns 12,347 shares of the biotechnology company’s stock valued at $820,000 after acquiring an additional 168 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Arrowhead Pharmaceuticals by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company’s stock valued at $737,000 after acquiring an additional 178 shares during the last quarter. HighTower Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 0.3% in the fourth quarter. HighTower Advisors LLC now owns 133,229 shares of the biotechnology company’s stock valued at $8,845,000 after acquiring an additional 340 shares during the last quarter. Tsfg LLC bought a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $25,000. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Arrowhead Pharmaceuticals by 1.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,614 shares of the biotechnology company’s stock worth $2,099,000 after purchasing an additional 430 shares in the last quarter. 62.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Hongbo Lu sold 2,970 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the sale, the director directly owned 52,012 shares in the company, valued at $3,998,682.56. This trade represents a 5.40% decrease in their ownership of the stock. 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. Also, insider James C. Hamilton sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the sale, the insider owned 226,958 shares in the company, valued at approximately $17,021,850. The trade was a 4.22% decrease in their ownership of the stock. 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 have sold a total of 26,065 shares of company stock worth $1,912,662 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Trading Down 0.8%

Shares of NASDAQ:ARWR opened at $76.55 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $14.30 and a 12 month high of $82.26. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. The company’s fifty day simple moving average is $73.09 and its 200 day simple moving average is $67.21. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of -35.60 and a beta of 1.28.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ARWR shares. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $78.00 to $100.00 in a research report on Tuesday, April 21st. Weiss Ratings cut shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada lifted their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. HC Wainwright reissued a “buy” rating and set a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, March 25th. Finally, Wall Street Zen cut shares of Arrowhead Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $87.80.

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.