Nordea Investment Management AB Has $3.49 Million Stake in Arrowhead Pharmaceuticals, Inc. $ARWR

Nordea Investment Management AB grew its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 63.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 213,345 shares of the biotechnology company’s stock after acquiring an additional 82,473 shares during the period. Nordea Investment Management AB’s holdings in Arrowhead Pharmaceuticals were worth $3,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Oak Ridge Investments LLC lifted its position in shares of Arrowhead Pharmaceuticals by 2.5% in the first quarter. Oak Ridge Investments LLC now owns 33,734 shares of the biotechnology company’s stock valued at $430,000 after buying an additional 823 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Arrowhead Pharmaceuticals by 6.9% in the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 979 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Arrowhead Pharmaceuticals by 9.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,476 shares of the biotechnology company’s stock worth $184,000 after purchasing an additional 1,195 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in Arrowhead Pharmaceuticals by 5.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 24,300 shares of the biotechnology company’s stock worth $384,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Arrowhead Pharmaceuticals by 29.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,335 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 1,214 shares during the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider James C. Hamilton sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total value of $700,000.00. Following the transaction, the insider owned 212,122 shares in the company, valued at approximately $7,424,270. This trade represents a 8.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 60,000 shares of company stock valued at $1,725,000. Company insiders own 4.30% of the company’s stock.

Arrowhead Pharmaceuticals Trading Down 1.1%

Shares of ARWR opened at $38.03 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $9.57 and a 52-week high of $40.29. The business’s fifty day moving average is $29.51 and its 200-day moving average is $20.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.87 and a current ratio of 4.87. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of -29.71 and a beta of 1.13.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The firm had revenue of $27.77 million during the quarter, compared to the consensus estimate of $29.01 million. During the same quarter last year, the firm posted ($1.38) EPS. Equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ARWR has been the subject of several research reports. B. Riley raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 11th. TD Cowen raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, July 28th. Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada lowered their price objective on Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.14.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.