Stratos Wealth Partners LTD. Trims Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Stratos Wealth Partners LTD. lessened its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRGet Rating) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,620 shares of the biotechnology company’s stock after selling 545 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Arrowhead Pharmaceuticals were worth $252,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. FMR LLC increased its position in Arrowhead Pharmaceuticals by 96.1% in the second quarter. FMR LLC now owns 2,742,968 shares of the biotechnology company’s stock worth $96,580,000 after buying an additional 1,344,444 shares in the last quarter. State Street Corp increased its position in Arrowhead Pharmaceuticals by 19.2% in the second quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company’s stock worth $196,568,000 after buying an additional 900,791 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Arrowhead Pharmaceuticals in the first quarter worth about $17,490,000. Commodore Capital LP purchased a new stake in Arrowhead Pharmaceuticals in the second quarter worth about $11,004,000. Finally, Bank of America Corp DE increased its position in Arrowhead Pharmaceuticals by 38.8% in the first quarter. Bank of America Corp DE now owns 826,932 shares of the biotechnology company’s stock worth $38,030,000 after buying an additional 231,243 shares in the last quarter. Hedge funds and other institutional investors own 65.46% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 0.8 %

Shares of Arrowhead Pharmaceuticals stock opened at $37.38 on Monday. The stock has a 50 day moving average of $33.74 and a 200 day moving average of $36.69. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $26.81 and a 12 month high of $62.25. The firm has a market cap of $3.96 billion, a PE ratio of -22.25 and a beta of 1.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Rating) last announced its quarterly earnings results on Monday, November 28th. The biotechnology company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.24). Arrowhead Pharmaceuticals had a negative net margin of 71.01% and a negative return on equity of 40.23%. The firm had revenue of $31.58 million for the quarter, compared to the consensus estimate of $107.60 million. As a group, equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider Martin Javier San sold 19,500 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $29.99, for a total transaction of $584,805.00. Following the sale, the insider now directly owns 91,500 shares in the company, valued at $2,744,085. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Arrowhead Pharmaceuticals news, insider Martin Javier San sold 19,500 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $29.99, for a total transaction of $584,805.00. Following the sale, the insider now directly owns 91,500 shares in the company, valued at $2,744,085. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kenneth Allen Myszkowski sold 30,625 shares of the company’s stock in a transaction that occurred on Thursday, December 29th. The shares were sold at an average price of $40.00, for a total value of $1,225,000.00. Following the sale, the chief financial officer now owns 336,704 shares in the company, valued at $13,468,160. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,766 shares of company stock valued at $3,954,435. Insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Jefferies Financial Group reduced their price target on Arrowhead Pharmaceuticals from $92.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, November 29th. Piper Sandler dropped their price objective on Arrowhead Pharmaceuticals from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, November 9th. HC Wainwright dropped their price objective on Arrowhead Pharmaceuticals from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, December 6th. Morgan Stanley dropped their price objective on Arrowhead Pharmaceuticals from $41.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $66.00 price objective (up previously from $65.00) on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 30th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

About Arrowhead Pharmaceuticals

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Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes ARO-AAT, a RNA interference (RNAi) therapeutic candidate that is in phase II clinical trial for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3, which is in phase 2b and one phase 3 clinical trial to treat hypertriglyceridemia; ARO-ANG3 that is in phase 2b clinical trial for the treatment of dyslipidemia; ARO-HSD, which is completed phase 1/2 clinical trial to treat liver diseases; ARO-ENaC2, which is in pre-clinical stage for the treatment of dyslipidemia cystic fibrosis; ARO-C3 that is in phase 1/2a clinical trial to reduce production of complement component 3; ARO-DUX4, which is in pre-clinical stage for the treatment of facioscapulohumeral muscular dystrophy; ARO-XDH that is in phase 1 clinical trial to treat uncontrolled gout; ARO-COV, which is in pre-clinical stage for the treatment of COVID-19; ARO-RAGE, which is in phase 1/2a clinical trial to treat muco-obstructive or inflammatory pulmonary conditions; and ARO-MMP7 that is in phase 1/2a clinical trial for treatment of idiopathic pulmonary fibrosis.

Further Reading

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Institutional Ownership by Quarter for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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