Banque Pictet & Cie SA Has $2.72 Million Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Banque Pictet & Cie SA lowered its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,792 shares of the biotechnology company’s stock after selling 3,261 shares during the quarter. Banque Pictet & Cie SA owned approximately 0.08% of Arrowhead Pharmaceuticals worth $2,724,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Arrowhead Pharmaceuticals by 16.2% during the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after buying an additional 1,731,974 shares during the last quarter. Avoro Capital Advisors LLC increased its holdings in Arrowhead Pharmaceuticals by 657.1% during the 1st quarter. Avoro Capital Advisors LLC now owns 8,555,555 shares of the biotechnology company’s stock valued at $244,689,000 after purchasing an additional 7,425,555 shares in the last quarter. Norges Bank bought a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at $40,451,000. Capital International Investors boosted its stake in Arrowhead Pharmaceuticals by 55.2% in the fourth quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock worth $39,093,000 after purchasing an additional 454,631 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 136.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after purchasing an additional 613,067 shares during the last quarter. 62.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Tracie Oliver sold 9,394 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the transaction, the insider now 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 Securities & Exchange Commission, which is available through this link. Company insiders own 4.50% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 1.7 %

NASDAQ ARWR opened at $24.78 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $20.67 and a 12 month high of $39.83. The stock has a 50-day simple moving average of $26.01 and a 200 day simple moving average of $26.56. The company has a market capitalization of $3.08 billion, a PE ratio of -5.83 and a beta of 0.94.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 140.72%. During the same period in the prior year, the firm earned ($0.96) earnings per share. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. As a group, sell-side analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ARWR. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Thursday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, June 20th. B. Riley reissued a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 price objective on the stock. 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 company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price 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.