King Luther Capital Management Corp Cuts Stake in Arrowhead Pharmaceuticals, Inc. $ARWR

King Luther Capital Management Corp decreased its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 25.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,475 shares of the biotechnology company’s stock after selling 20,165 shares during the quarter. King Luther Capital Management Corp’s holdings in Arrowhead Pharmaceuticals were worth $4,015,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Arrowhead Pharmaceuticals by 3.3% during the third quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock worth $553,077,000 after acquiring an additional 510,798 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in shares of Arrowhead Pharmaceuticals by 2.8% in the third quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock worth $375,941,000 after buying an additional 300,000 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Arrowhead Pharmaceuticals by 3,142.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock valued at $71,797,000 after buying an additional 2,017,489 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 valued at $22,189,000 after buying an additional 447,456 shares in the last quarter. Finally, Baker BROS. Advisors LP increased its stake in Arrowhead Pharmaceuticals by 77.9% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,670,762 shares of the biotechnology company’s stock worth $57,625,000 after acquiring an additional 731,588 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ARWR. Sanford C. Bernstein lifted their price objective on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. started coverage on shares of Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an “overweight” rating and a $88.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, March 25th. Royal Bank Of Canada lifted their price target on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $78.00 to $100.00 in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $87.80.

Insider Activity at Arrowhead Pharmaceuticals

In related news, CFO Daniel Joseph Apel sold 13,095 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the sale, the chief financial officer owned 162,905 shares in the company, valued at $11,623,271.75. This trade represents a 7.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the sale, the director owned 52,012 shares of the company’s stock, valued at $3,998,682.56. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 36,065 shares of company stock worth $2,554,562 in the last quarter. 3.60% of the stock is owned by company insiders.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $79.05 on Friday. The firm has a 50-day moving average price of $69.14 and a 200-day moving average price of $64.30. The firm has a market capitalization of $11.13 billion, a PE ratio of -36.77 and a beta of 1.28. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $14.30 and a 12-month high of $82.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The firm had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. During the same period in the prior year, the business posted $2.75 earnings per share. The company’s revenue for the quarter was down 86.4% on a year-over-year basis. As a group, equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.98 EPS for the current year.

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.