Elevation Point Wealth Partners LLC Takes Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Elevation Point Wealth Partners LLC purchased a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,977 shares of the biotechnology company’s stock, valued at approximately $751,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARWR. Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its position in Arrowhead Pharmaceuticals by 14.0% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 44,045 shares of the biotechnology company’s stock worth $2,762,000 after acquiring an additional 5,398 shares in the last quarter. Strs Ohio boosted its holdings in Arrowhead Pharmaceuticals by 3.2% in the first quarter. Strs Ohio now owns 32,500 shares of the biotechnology company’s stock worth $2,038,000 after purchasing an additional 1,000 shares in the last quarter. Inspire Investing LLC bought a new stake in Arrowhead Pharmaceuticals in the first quarter worth $107,000. Janney Montgomery Scott LLC acquired a new position in Arrowhead Pharmaceuticals during the first quarter worth $269,000. Finally, Pictet Asset Management Holding SA raised its holdings in Arrowhead Pharmaceuticals by 23.8% during the first quarter. Pictet Asset Management Holding SA now owns 1,273,266 shares of the biotechnology company’s stock valued at $79,612,000 after buying an additional 244,530 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $86.97 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $14.30 and a twelve month high of $87.83. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. The stock has a market capitalization of $12.25 billion, a PE ratio of -40.45 and a beta of 1.26. The stock has a 50-day simple moving average of $77.27 and a 200 day simple moving average of $69.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The firm had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The company’s revenue was down 86.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.75 EPS. Research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3 EPS for the current year.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CFO Daniel Joseph Apel sold 13,095 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total value of $934,328.25. Following the completion of the sale, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at $11,623,271.75. This represents a 7.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James C. Hamilton sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the transaction, the insider owned 226,958 shares in the company, valued at approximately $17,021,850. The trade was a 4.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 26,065 shares of company stock worth $1,912,662. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

ARWR has been the subject of several recent analyst reports. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Sanford C. Bernstein boosted their target price on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. began coverage on Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an “overweight” rating and a $88.00 target price for the company. Weiss Ratings downgraded Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Finally, Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $87.27.

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.