Arrowhead Pharmaceuticals, Inc. $ARWR Stock: Assenagon Asset Management S.A. Trims Holdings

Assenagon Asset Management S.A. cut its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 98.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,268 shares of the biotechnology company’s stock after selling 198,659 shares during the period. Assenagon Asset Management S.A.’s holdings in Arrowhead Pharmaceuticals were worth $214,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Arrowhead Pharmaceuticals in the second quarter worth $1,208,838,000. Siren L.L.C. boosted its stake in Arrowhead Pharmaceuticals by 7.7% during the 1st quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company’s stock valued at $101,290,000 after purchasing an additional 115,000 shares during the last quarter. Jupiter Topco LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 2nd quarter worth $99,623,000. Janus Henderson Group PLC lifted its holdings in Arrowhead Pharmaceuticals by 12.2% during the first quarter. Janus Henderson Group PLC now owns 1,436,990 shares of the biotechnology company’s stock worth $90,119,000 after acquiring an additional 156,544 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in Arrowhead Pharmaceuticals by 23.8% in 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 acquiring an additional 244,530 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock opened at $58.02 on Friday. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $36.88 and a 1 year high of $95.49. The firm’s 50-day moving average is $72.62 and its 200 day moving average is $75.76. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of -25.79 and a beta of 1.29. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%. The firm had revenue of $75.25 million during the quarter, compared to analysts’ expectations of $44.17 million. During the same period last year, the firm posted ($1.26) earnings per share. The firm’s quarterly revenue was up 171.0% on a year-over-year basis. Sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARWR. Stifel Nicolaus started coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They issued a “buy” rating and a $98.00 target price on the stock. Morgan Stanley raised their price target on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. HC Wainwright restated a “buy” rating and issued a $120.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, October 15th. B. Riley Financial raised their target price on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.07.

Insider Buying and Selling

In other news, Director Michael Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the completion of the sale, the director directly owned 111,459 shares in the company, valued at $9,730,370.70. The trade was a 9.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Adeoye Olukotun sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the transaction, the director directly owned 31,600 shares of the company’s stock, valued at $2,747,936. The trade was a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes using RNA interference (RNAi). The company’s proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi-based therapies to specific tissues and reduce the production of targeted proteins.

Arrowhead’s research and development programs address a range of conditions, including cardiometabolic, pulmonary, liver, and central nervous system diseases.