Oak Ridge Investments LLC Cuts Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Oak Ridge Investments LLC lessened its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 12.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,600 shares of the biotechnology company’s stock after selling 5,332 shares during the quarter. Oak Ridge Investments LLC’s holdings in Arrowhead Pharmaceuticals were worth $951,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth $41,000. Quest Partners LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $45,000. Headlands Technologies LLC grew its stake in Arrowhead Pharmaceuticals by 7,696.8% in the first quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 2,386 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Arrowhead Pharmaceuticals by 22.9% in the 4th quarter. Van ECK Associates Corp now owns 2,395 shares of the biotechnology company’s stock worth $73,000 after acquiring an additional 447 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $201,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Insiders Place Their Bets

In related news, insider Tracie Oliver sold 9,394 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the sale, the insider now directly owns 127,107 shares of the company’s stock, valued at approximately $3,213,264.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 1.4 %

Shares of NASDAQ ARWR traded up $0.32 during mid-day trading on Thursday, reaching $23.02. The company had a trading volume of 337,769 shares, compared to its average volume of 1,262,090. The company has a 50-day moving average price of $26.19 and a two-hundred day moving average price of $26.99. The stock has a market cap of $2.86 billion, a PE ratio of -5.34 and a beta of 0.94. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $20.67 and a 1-year high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. During the same period in the previous year, the firm posted ($0.96) earnings per share. The business’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.04 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. B. Riley reiterated a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday. Morgan Stanley cut their target price on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, May 13th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. The Goldman Sachs Group assumed coverage on Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.25.

Arrowhead Pharmaceuticals Profile

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.