Arrowhead Pharmaceuticals, Inc. $ARWR Stock: Pictet Asset Management Holding SA Boosts Position

Pictet Asset Management Holding SA lifted its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 33.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 767,192 shares of the biotechnology company’s stock after purchasing an additional 193,773 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Arrowhead Pharmaceuticals were worth $50,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Arrowhead Pharmaceuticals by 243.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 201,927 shares of the biotechnology company’s stock valued at $16,459,000 after acquiring an additional 143,192 shares during the last quarter. Corient Private Wealth LP purchased a new position in shares of Arrowhead Pharmaceuticals during the second quarter worth $1,313,000. Squarepoint Ops LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the second quarter worth $20,859,000. Siren L.L.C. lifted its position in Arrowhead Pharmaceuticals by 7.7% during the first quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company’s stock valued at $101,290,000 after purchasing an additional 115,000 shares during the period. Finally, Empowered Funds LLC lifted its position in Arrowhead Pharmaceuticals by 661.6% during the first quarter. Empowered Funds LLC now owns 137,220 shares of the biotechnology company’s stock valued at $8,604,000 after purchasing an additional 119,202 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director Adeoye Olukotun sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the transaction, the director owned 31,600 shares in the company, valued at approximately $2,747,936. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Perry sold 11,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the completion of the sale, the director owned 111,459 shares of the company’s stock, valued at $9,730,370.70. This trade represents a 9.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

ARWR has been the topic of several analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $115.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. Morgan Stanley boosted their price objective on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a research note on Thursday, September 24th. They issued a “neutral” rating and a $74.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Finally, Citigroup initiated coverage on Arrowhead Pharmaceuticals in a research report on Tuesday, September 8th. They set a “buy” rating and a $108.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.07.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $49.00 on Wednesday. The company has a market capitalization of $6.90 billion, a PE ratio of -21.78 and a beta of 1.34. The company has a debt-to-equity ratio of 1.77, a quick ratio of 5.90 and a current ratio of 5.90. The company’s fifty day moving average price is $65.53 and its 200 day moving average price is $71.28. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $37.06 and a 1 year high of $95.49.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals is a biotechnology company that develops medicines using RNA interference (RNAi), a biological process that can reduce the production of specific proteins by silencing the genes that encode them. Its proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi treatments to targeted tissues. The company’s research and development programs address a range of conditions, including liver, cardiometabolic, pulmonary and neurological diseases. Its work centers on investigational medicines and drug-development partnerships.