Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Get Rating) by 3.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,073,815 shares of the biotechnology company’s stock after purchasing an additional 37,243 shares during the quarter. Bank of New York Mellon Corp’s holdings in Arrowhead Pharmaceuticals were worth $35,491,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ARWR. US Bancorp DE boosted its holdings in Arrowhead Pharmaceuticals by 6.5% during the first quarter. US Bancorp DE now owns 17,418 shares of the biotechnology company’s stock worth $801,000 after buying an additional 1,069 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 4.9% during the first quarter. HighTower Advisors LLC now owns 16,988 shares of the biotechnology company’s stock worth $779,000 after buying an additional 792 shares in the last quarter. Rhumbline Advisers boosted its holdings in Arrowhead Pharmaceuticals by 2.4% during the first quarter. Rhumbline Advisers now owns 289,502 shares of the biotechnology company’s stock worth $13,314,000 after buying an additional 6,754 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Arrowhead Pharmaceuticals by 11.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,650 shares of the biotechnology company’s stock worth $1,778,000 after buying an additional 4,083 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Arrowhead Pharmaceuticals by 1.2% in the 1st quarter. BlackRock Inc. now owns 12,155,084 shares of the biotechnology company’s stock valued at $559,014,000 after acquiring an additional 147,021 shares in the last quarter. 65.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 30,625 shares of the company’s stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $40.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the chief financial officer now owns 336,704 shares of the company’s stock, valued at $13,468,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 30,625 shares of the company’s stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $40.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the chief financial officer now owns 336,704 shares of the company’s stock, valued at $13,468,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adeoye Y. Olukotun sold 11,350 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $32.65, for a total value of $370,577.50. Following the sale, the director now directly owns 7,867 shares of the company’s stock, valued at approximately $256,857.55. The disclosure for this sale can be found here. Insiders sold 102,691 shares of company stock valued at $3,864,750 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ARWR. Royal Bank of Canada reduced their price target on shares of Arrowhead Pharmaceuticals from $83.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, February 7th. Jefferies Financial Group reduced their price target on shares of Arrowhead Pharmaceuticals from $92.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, November 29th. Morgan Stanley reduced their price target on shares of Arrowhead Pharmaceuticals from $41.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 29th. SVB Leerink reduced their price target on shares of Arrowhead Pharmaceuticals from $33.00 to $31.00 and set a “market perform” rating for the company in a research report on Tuesday, November 29th. Finally, Piper Sandler reduced their price target on shares of Arrowhead Pharmaceuticals from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, February 7th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.10.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $26.42 on Tuesday. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -17.73 and a beta of 1.05. The business has a 50 day simple moving average of $33.79 and a 200 day simple moving average of $33.97. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $25.54 and a 52 week high of $51.11.

Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Rating) last announced its quarterly earnings results on Monday, February 6th. The biotechnology company reported ($0.39) EPS for the quarter, missing the consensus estimate of $1.14 by ($1.53). The firm had revenue of $62.55 million during the quarter, compared to the consensus estimate of $162.52 million. Arrowhead Pharmaceuticals had a negative net margin of 54.31% and a negative return on equity of 34.73%. The company’s quarterly revenue was up 127.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.60) EPS. On average, analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.4 EPS for the current year.

Arrowhead Pharmaceuticals Profile

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Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the development of medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC.