Strs Ohio Lowers Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Strs Ohio reduced its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRGet Rating) by 16.2% during the 3rd quarter, Holdings Channel reports. The fund owned 34,100 shares of the biotechnology company’s stock after selling 6,600 shares during the quarter. Strs Ohio’s holdings in Arrowhead Pharmaceuticals were worth $1,127,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Captrust Financial Advisors raised its stake in shares of Arrowhead Pharmaceuticals by 22.4% in the second quarter. Captrust Financial Advisors now owns 1,201 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 220 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Arrowhead Pharmaceuticals by 1.2% in the second quarter. Arizona State Retirement System now owns 27,151 shares of the biotechnology company’s stock valued at $956,000 after acquiring an additional 309 shares in the last quarter. Private Advisor Group LLC raised its stake in Arrowhead Pharmaceuticals by 2.7% in the third quarter. Private Advisor Group LLC now owns 11,795 shares of the biotechnology company’s stock valued at $390,000 after buying an additional 313 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Arrowhead Pharmaceuticals by 3.5% in the second quarter. O Shaughnessy Asset Management LLC now owns 9,704 shares of the biotechnology company’s stock valued at $342,000 after buying an additional 326 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Arrowhead Pharmaceuticals by 2.2% in the second quarter. State of Alaska Department of Revenue now owns 15,173 shares of the biotechnology company’s stock valued at $534,000 after buying an additional 330 shares in the last quarter. 65.46% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Stock Up 1.9 %

NASDAQ ARWR opened at $36.82 on Friday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $26.81 and a 52-week high of $58.96. The business’s 50-day moving average price is $33.69 and its 200 day moving average price is $36.65. The firm has a market cap of $3.90 billion, a P/E ratio of -21.92 and a beta of 1.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Rating) last announced its quarterly earnings data on Monday, November 28th. The biotechnology company reported ($0.81) earnings per share 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 business had revenue of $31.58 million during the quarter, compared to analysts’ expectations of $107.60 million. As a group, analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,200 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $30.00, for a total value of $96,000.00. Following the sale, the director now owns 28,950 shares of the company’s stock, valued at approximately $868,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William D. Waddill sold 3,200 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $30.00, for a total transaction of $96,000.00. Following the completion of the sale, the director now directly owns 28,950 shares in the company, valued at approximately $868,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Martin Javier San sold 19,500 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $29.99, for a total transaction of $584,805.00. Following the sale, the insider now owns 91,500 shares of the company’s stock, valued at $2,744,085. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,966 shares of company stock valued at $4,050,435. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. B. Riley cut their price target on Arrowhead Pharmaceuticals from $65.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Morgan Stanley cut their price target on Arrowhead Pharmaceuticals from $41.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 29th. SVB Leerink cut their price target on Arrowhead Pharmaceuticals from $33.00 to $31.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 29th. Jefferies Financial Group dropped their price objective on Arrowhead Pharmaceuticals from $92.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, November 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $66.00 price objective (up previously from $65.00) on shares of Arrowhead Pharmaceuticals in a report on Wednesday, November 30th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $59.22.

Arrowhead Pharmaceuticals Profile

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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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