Nordea Investment Management AB Cuts Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Nordea Investment Management AB trimmed its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRFree Report) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,152 shares of the biotechnology company’s stock after selling 3,837 shares during the quarter. Nordea Investment Management AB owned 0.15% of Arrowhead Pharmaceuticals worth $4,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 58.2% during the 3rd quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock valued at $115,780,000 after buying an additional 1,584,425 shares during the period. UBS Group AG raised its holdings in Arrowhead Pharmaceuticals by 11.7% in the 3rd quarter. UBS Group AG now owns 369,602 shares of the biotechnology company’s stock worth $9,931,000 after purchasing an additional 38,632 shares during the period. Citigroup Inc. raised its holdings in Arrowhead Pharmaceuticals by 57.8% in the 3rd quarter. Citigroup Inc. now owns 161,798 shares of the biotechnology company’s stock worth $4,348,000 after purchasing an additional 59,279 shares during the period. Invesco Ltd. raised its holdings in Arrowhead Pharmaceuticals by 9.6% in the 3rd quarter. Invesco Ltd. now owns 2,443,038 shares of the biotechnology company’s stock worth $65,644,000 after purchasing an additional 214,618 shares during the period. Finally, Hudson Bay Capital Management LP raised its holdings in Arrowhead Pharmaceuticals by 42.2% in the 3rd quarter. Hudson Bay Capital Management LP now owns 160,000 shares of the biotechnology company’s stock worth $4,299,000 after purchasing an additional 47,500 shares during the period. 65.98% of the stock is owned by institutional investors.

Arrowhead Pharmaceuticals Trading Down 3.6 %

ARWR opened at $27.21 on Friday. The firm has a market cap of $3.37 billion, a P/E ratio of -9.79 and a beta of 0.72. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $20.67 and a 12 month high of $42.48. The stock has a 50-day moving average of $31.61 and a 200 day moving average of $29.18.

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

Insiders Place Their Bets

In other news, Director Hongbo Lu acquired 1,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was acquired at an average price of $27.49 per share, with a total value of $27,490.00. Following the completion of the purchase, the director now directly owns 31,680 shares in the company, valued at $870,883.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Hongbo Lu acquired 1,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was acquired at an average price of $27.49 per share, with a total value of $27,490.00. Following the completion of the purchase, the director now directly owns 31,680 shares in the company, valued at $870,883.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Richard Anzalone sold 9,952 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $31.01, for a total transaction of $308,611.52. Following the completion of the sale, the chief executive officer now directly owns 3,715,048 shares of the company’s stock, valued at approximately $115,203,638.48. The disclosure for this sale can be found here. Insiders sold a total of 204,439 shares of company stock valued at $6,969,599 over the last 90 days. Insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

ARWR has been the topic of a number of recent research reports. Citigroup raised their target price on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 7th. Bank of America raised their price target on Arrowhead Pharmaceuticals from $29.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Morgan Stanley raised their price target on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.45.

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About Arrowhead Pharmaceuticals

(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.

See Also

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

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