Arizona State Retirement System Sells 449 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Arizona State Retirement System lessened its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,467 shares of the biotechnology company’s stock after selling 449 shares during the quarter. Arizona State Retirement System’s holdings in Arrowhead Pharmaceuticals were worth $871,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ARWR. FMR LLC boosted its position 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 acquiring an additional 1,584,425 shares during the last quarter. Norges Bank purchased a new stake in Arrowhead Pharmaceuticals during the fourth quarter valued at $60,235,000. State Street Corp lifted 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. grew its stake in shares of Arrowhead Pharmaceuticals by 4,031.7% in the 4th quarter. Nomura Holdings Inc. now owns 649,548 shares of the biotechnology company’s stock worth $26,302,000 after buying an additional 633,827 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Arrowhead Pharmaceuticals by 631.3% in the 4th quarter. Millennium Management LLC now owns 575,624 shares of the biotechnology company’s stock worth $23,347,000 after buying an additional 496,910 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock opened at $23.67 on Wednesday. The company has a market capitalization of $2.93 billion, a P/E ratio of -8.51 and a beta of 0.71. The company’s 50-day simple moving average is $29.25 and its two-hundred day simple moving average is $28.99. Arrowhead Pharmaceuticals, Inc. has a one year low of $20.67 and a one year high of $42.48.

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

Insiders Place Their Bets

In related news, Director Hongbo Lu bought 1,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were acquired at an average cost of $27.49 per share, for a total transaction of $27,490.00. Following the purchase, the director now directly owns 31,680 shares of the company’s stock, valued at $870,883.20. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the 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 transaction, the chief financial officer now directly owns 400,600 shares in the company, valued at $14,097,114. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hongbo Lu acquired 1,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were acquired at an average price of $27.49 per share, for a total transaction of $27,490.00. Following the completion of the purchase, the director now owns 31,680 shares of the company’s stock, valued at approximately $870,883.20. The disclosure for this purchase can be found here. Insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

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

Arrowhead Pharmaceuticals Profile

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.