Arrowhead Pharmaceuticals, Inc. $ARWR Stock: VestGen Advisors LLC Cuts Stake

VestGen Advisors LLC reduced its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 72.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,675 shares of the biotechnology company’s stock after selling 9,451 shares during the period. VestGen Advisors LLC’s holdings in Arrowhead Pharmaceuticals were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its holdings in Arrowhead Pharmaceuticals by 243.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 201,927 shares of the biotechnology company’s stock valued at $16,459,000 after buying an additional 143,192 shares during the period. Corient Private Wealth LP acquired a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $1,313,000. Squarepoint Ops LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $20,859,000. Siren L.L.C. lifted its holdings in shares of 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 worth $101,290,000 after acquiring an additional 115,000 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 661.6% during the 1st quarter. Empowered Funds LLC now owns 137,220 shares of the biotechnology company’s stock worth $8,604,000 after acquiring an additional 119,202 shares during the period. Institutional investors own 62.61% of the company’s stock.

Wall Street Analyst Weigh In

ARWR has been the topic of several analyst reports. UBS Group began coverage on shares of Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. They set a “buy” rating and a $109.00 price target on the stock. Stifel Nicolaus began coverage on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 24th. They set a “neutral” rating and a $74.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 17th. Finally, Morgan Stanley raised their target price on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.07.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $61.65 on Thursday. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. The stock has a market cap of $8.68 billion, a PE ratio of -27.40 and a beta of 1.34. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $37.06 and a 12-month high of $95.49. The business’s 50-day moving average price is $68.15 and its two-hundred day moving average price is $71.55.

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

Insider Activity at Arrowhead Pharmaceuticals

In related news, Director Michael S. Perry sold 11,600 shares of the 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 transaction, the director owned 111,459 shares of the company’s stock, valued at $9,730,370.70. This represents a 9.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the firm’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 completion of the sale, the director owned 31,600 shares in the company, valued at $2,747,936. This represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.