Arrowhead Pharmaceuticals, Inc. $ARWR Stock Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 33.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 767,192 shares of the biotechnology company’s stock after purchasing an additional 193,773 shares during the period. Pictet Asset Management Holding SA owned 0.54% of Arrowhead Pharmaceuticals worth $50,213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carolina Wealth Advisors LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 80.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 154 shares in the last quarter. Optiver Holding B.V. boosted its stake in shares of Arrowhead Pharmaceuticals by 83.8% during the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 186 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Arrowhead Pharmaceuticals by 285.1% during the second quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 248 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Arrowhead Pharmaceuticals by 7.1% during the second quarter. QRG Capital Management Inc. now owns 4,810 shares of the biotechnology company’s stock valued at $392,000 after buying an additional 317 shares during the period. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in Arrowhead Pharmaceuticals by 1.8% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 18,814 shares of the biotechnology company’s stock valued at $1,180,000 after buying an additional 335 shares during the period. 62.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 31st. Piper Sandler reaffirmed an “overweight” rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price target on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, July 17th. UBS Group assumed coverage on Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. They issued a “buy” rating and a $109.00 price target for the company. Finally, Chardan Capital restated a “buy” rating and set a $115.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.07.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $49.00 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $37.06 and a 12-month high of $95.49. The business’s fifty day simple moving average is $65.53 and its 200-day simple moving average is $71.28. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. The company has a market cap of $6.90 billion, a PE ratio of -21.78 and a beta of 1.34.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the transaction, the director directly owned 31,600 shares of the company’s stock, valued at $2,747,936. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael S. Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the completion of the sale, the director owned 111,459 shares of the company’s stock, valued at $9,730,370.70. This trade represents a 9.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.60% of the stock is currently owned by insiders.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals is a biotechnology company that develops medicines using RNA interference (RNAi), a biological process that can reduce the production of specific proteins by silencing the genes that encode them. Its proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi treatments to targeted tissues. The company’s research and development programs address a range of conditions, including liver, cardiometabolic, pulmonary and neurological diseases. Its work centers on investigational medicines and drug-development partnerships.