Maryland State Retirement & Pension System Reduces Stock Holdings in Arrowhead Pharmaceuticals, Inc. $ARWR

Maryland State Retirement & Pension System cut its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 46.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 19,876 shares of the biotechnology company’s stock after selling 17,116 shares during the period. Maryland State Retirement & Pension System’s holdings in Arrowhead Pharmaceuticals were worth $686,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Arrowhead Pharmaceuticals by 30.2% during the first quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after purchasing an additional 10,496 shares during the period. AQR Capital Management LLC acquired a new stake in Arrowhead Pharmaceuticals during the 1st quarter valued at $514,000. Goldman Sachs Group Inc. increased its stake in Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after buying an additional 447,456 shares during the period. Empowered Funds LLC increased its stake in Arrowhead Pharmaceuticals by 6.9% during the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock worth $194,000 after buying an additional 979 shares during the period. Finally, Focus Partners Wealth lifted its holdings in Arrowhead Pharmaceuticals by 1,339.5% in the 1st quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock worth $207,000 after buying an additional 15,123 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 3.6%

Shares of NASDAQ ARWR opened at $67.60 on Thursday. The company has a quick ratio of 4.86, a current ratio of 4.86 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $61.33 and its two-hundred day moving average price is $39.39. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $9.57 and a 52-week high of $76.76. The stock has a market capitalization of $9.19 billion, a P/E ratio of -844.89 and a beta of 1.21.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 40,164 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $63.11, for a total transaction of $2,534,750.04. Following the transaction, the insider directly owned 171,958 shares in the company, valued at $10,852,269.38. This trade represents a 18.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Adeoye Y. Olukotun sold 10,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $67.66, for a total transaction of $676,600.00. Following the sale, the director owned 33,600 shares of the company’s stock, valued at approximately $2,273,376. The trade was a 22.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 510,836 shares of company stock worth $33,603,060. 4.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright lifted their price objective on Arrowhead Pharmaceuticals from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Chardan Capital increased their target price on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada raised their price target on shares of Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $74.67.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.