Platinum Investment Management Ltd. Reduces Stock Holdings in Arrowhead Pharmaceuticals, Inc. $ARWR

Platinum Investment Management Ltd. decreased its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,484 shares of the biotechnology company’s stock after selling 21,538 shares during the period. Arrowhead Pharmaceuticals comprises approximately 1.4% of Platinum Investment Management Ltd.’s portfolio, making the stock its 20th biggest holding. Platinum Investment Management Ltd.’s holdings in Arrowhead Pharmaceuticals were worth $5,941,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Rhenman & Partners Asset Management AB bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at $9,593,000. Keystone Investors PTE Ltd. bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at $3,844,000. Brooklyn Investment Group bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at $335,000. MetLife Investment Management LLC raised its holdings in Arrowhead Pharmaceuticals by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 73,040 shares of the biotechnology company’s stock valued at $4,849,000 after acquiring an additional 1,077 shares during the period. Finally, Cibc World Markets Corp bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at $583,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ARWR shares. Wall Street Zen cut shares of Arrowhead Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, March 25th. JPMorgan Chase & Co. initiated coverage on shares of Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an “overweight” rating and a $88.00 price target for the company. Royal Bank Of Canada upped their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Sanford C. Bernstein upped their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $87.80.

Insider Activity

In related news, CFO Daniel Joseph Apel sold 13,095 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $11,623,271.75. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the firm’s stock in a transaction that occurred on 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 directly owned 52,012 shares of the company’s stock, valued at $3,998,682.56. This trade represents 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. Over the last ninety days, insiders sold 26,065 shares of company stock worth $1,912,662. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $74.52 on Friday. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $14.30 and a 1 year high of $82.26. The company has a market cap of $10.50 billion, a P/E ratio of -34.66 and a beta of 1.28. The firm has a 50-day moving average of $72.46 and a 200 day moving average of $66.71. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The company had revenue of $73.74 million during the quarter, compared to the consensus estimate of $73.84 million. During the same period in the prior year, the firm earned $2.75 earnings per share. Arrowhead Pharmaceuticals’s revenue was down 86.4% on a year-over-year basis. On average, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3 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.