Exchange Traded Concepts LLC Takes Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Exchange Traded Concepts LLC acquired a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 43,752 shares of the biotechnology company’s stock, valued at approximately $1,339,000.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC increased its stake in Arrowhead Pharmaceuticals by 58.2% during the 3rd quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock worth $115,780,000 after purchasing an additional 1,584,425 shares in the last quarter. Norges Bank bought a new stake in Arrowhead Pharmaceuticals during the fourth quarter worth about $60,235,000. State Street Corp boosted its position in Arrowhead Pharmaceuticals by 19.2% during the second quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company’s stock valued at $196,568,000 after purchasing an additional 900,791 shares during the last quarter. Nomura Holdings Inc. increased its position in shares of Arrowhead Pharmaceuticals by 4,031.7% during the 4th quarter. Nomura Holdings Inc. now owns 649,548 shares of the biotechnology company’s stock worth $26,302,000 after purchasing an additional 633,827 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $18,103,000. Institutional investors and hedge funds own 65.98% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the completion of the transaction, the chief financial officer now directly owns 400,600 shares of the company’s stock, valued at $14,097,114. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 57,499 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $32.35, for a total transaction of $1,860,092.65. Following the completion of the transaction, the chief executive officer now owns 3,715,048 shares in the company, valued at approximately $120,181,802.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kenneth Allen Myszkowski sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the completion of the transaction, the chief financial officer now directly owns 400,600 shares of the company’s stock, valued at $14,097,114. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,439 shares of company stock valued at $7,312,079. Corporate insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ARWR. StockNews.com downgraded Arrowhead Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, November 22nd. Bank of America upped their price objective on shares of Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, February 8th. Citigroup boosted their target price on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.25.

View Our Latest Analysis on ARWR

Arrowhead Pharmaceuticals Trading Up 3.1 %

Shares of ARWR opened at $28.28 on Monday. The firm’s 50-day moving average price is $32.63 and its 200-day moving average price is $29.19. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of -10.17 and a beta of 0.72. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $20.67 and a 1-year high of $42.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.46). The business had revenue of $3.55 million for the quarter, compared to analysts’ expectations of $35.60 million. Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 90.77%. The company’s revenue was down 94.3% on a year-over-year basis. During the same period last year, the business earned ($0.39) earnings per share. On average, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.7 EPS for the current fiscal year.

Arrowhead Pharmaceuticals Profile

(Free Report)

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.

Recommended Stories

Want to see what other hedge funds are holding ARWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRFree Report).

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

Receive News & Ratings for Arrowhead Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrowhead Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.