Arrowhead Pharmaceuticals, Inc. $ARWR Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 37.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 149,148 shares of the biotechnology company’s stock after selling 88,582 shares during the quarter. First Trust Advisors LP owned about 0.11% of Arrowhead Pharmaceuticals worth $9,352,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Tsfg LLC purchased a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at $25,000. iSAM Funds UK Ltd acquired a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at $29,000. First Horizon Corp purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $32,000. WPG Advisers LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 384.8% during the 4th quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 431 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of Arrowhead Pharmaceuticals by 177.1% during the 4th quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 471 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total value of $228,333.60. Following the completion of the transaction, the director directly owned 52,012 shares in the company, valued at approximately $3,998,682.56. This trade represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. HC Wainwright upped their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Sanford C. Bernstein lifted their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Piper Sandler reissued an “overweight” rating and issued a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, Stifel Nicolaus initiated coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.92.

Arrowhead Pharmaceuticals Stock Down 3.1%

Shares of ARWR opened at $84.65 on Friday. The company’s 50-day simple moving average is $79.04 and its 200-day simple moving average is $70.67. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $15.01 and a 1 year high of $95.49. The stock has a market capitalization of $11.92 billion, a PE ratio of -39.37 and a beta of 1.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating 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 business’s quarterly revenue was down 86.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.75 earnings per share. Analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.08 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals 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.