HighTower Advisors LLC Reduces Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

HighTower Advisors LLC cut its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 9.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,031 shares of the biotechnology company’s stock after selling 970 shares during the period. HighTower Advisors LLC’s holdings in Arrowhead Pharmaceuticals were worth $747,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Envestnet Asset Management Inc. increased its stake in shares of Arrowhead Pharmaceuticals by 16.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 38,995 shares of the biotechnology company’s stock worth $2,586,000 after purchasing an additional 5,480 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Arrowhead Pharmaceuticals by 52.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,388 shares of the biotechnology company’s stock worth $357,000 after purchasing an additional 1,856 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Arrowhead Pharmaceuticals by 248.4% during the 1st quarter. Alliancebernstein L.P. now owns 1,065,997 shares of the biotechnology company’s stock worth $70,686,000 after purchasing an additional 760,005 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Arrowhead Pharmaceuticals by 0.8% during the 1st quarter. Arizona State Retirement System now owns 28,417 shares of the biotechnology company’s stock worth $1,884,000 after purchasing an additional 235 shares in the last quarter. Finally, The PNC Financial Services Group Inc. increased its stake in shares of Arrowhead Pharmaceuticals by 0.7% during the 1st quarter. The PNC Financial Services Group Inc. now owns 22,614 shares of the biotechnology company’s stock worth $1,499,000 after purchasing an additional 156 shares in the last quarter. 63.50% of the stock is owned by institutional investors.

In related news, Director Backer Marianne De sold 5,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Thursday, June 24th. The shares were sold at an average price of $89.85, for a total transaction of $449,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

ARWR has been the subject of a number of recent research reports. SVB Leerink reissued a “hold” rating on shares of Arrowhead Pharmaceuticals in a research note on Sunday, June 27th. HC Wainwright raised their price objective on shares of Arrowhead Pharmaceuticals from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, August 10th. reaffirmed a “buy” rating and issued a $95.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Friday, July 2nd. Chardan Capital lowered their target price on shares of Arrowhead Pharmaceuticals from $97.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, August 6th. Finally, Piper Sandler lowered their target price on shares of Arrowhead Pharmaceuticals from $109.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, July 2nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $87.33.

NASDAQ:ARWR opened at $62.36 on Wednesday. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of -50.70 and a beta of 1.23. The firm’s fifty day simple moving average is $64.65 and its 200 day simple moving average is $69.60. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $41.60 and a twelve month high of $93.66.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Wednesday, August 4th. The biotechnology company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.21). The business had revenue of $45.89 million for the quarter, compared to analyst estimates of $50.20 million. Arrowhead Pharmaceuticals had a negative net margin of 116.97% and a negative return on equity of 28.00%. Equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -0.79 EPS for the current year.

Arrowhead Pharmaceuticals Profile

Arrowhead Pharmaceuticals, Inc operates as a biopharmaceutical company. It develops medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC. The company was founded by R.

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Institutional Ownership by Quarter for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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