State of Wyoming Sells 5,901 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

State of Wyoming lowered its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 58.4% in the 1st quarter, HoldingsChannel reports. The firm owned 4,209 shares of the biotechnology company’s stock after selling 5,901 shares during the quarter. State of Wyoming’s holdings in Arrowhead Pharmaceuticals were worth $264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARWR. Arrowstreet Capital Limited Partnership lifted its holdings in Arrowhead Pharmaceuticals by 3,142.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock worth $71,797,000 after buying an additional 2,017,489 shares during the period. Norges Bank bought a new stake in Arrowhead Pharmaceuticals during the fourth quarter valued at about $113,159,000. Fred Alger Management LLC grew its stake in Arrowhead Pharmaceuticals by 497.4% in the fourth quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after purchasing an additional 1,526,164 shares during the last quarter. Deerfield Management Company L.P. purchased a new stake in shares of Arrowhead Pharmaceuticals during the third quarter valued at about $34,249,000. Finally, Vestal Point Capital LP bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $59,751,000. 62.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Hongbo Lu sold 2,970 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total value of $228,333.60. Following the transaction, the director directly owned 52,012 shares of the company’s stock, valued at approximately $3,998,682.56. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 0.3%

NASDAQ ARWR opened at $85.78 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $15.01 and a 12-month high of $95.49. The company has a fifty day simple moving average of $78.43 and a two-hundred day simple moving average of $70.26. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41. The stock has a market cap of $12.08 billion, a P/E ratio of -39.90 and a beta of 1.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating 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 firm had revenue of $73.74 million for the quarter, compared to analyst estimates of $73.84 million. During the same period in the previous year, the company earned $2.75 earnings per share. The business’s quarterly revenue was down 86.4% compared to the same quarter last year. On average, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. Stifel Nicolaus assumed coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price objective for the company. Morgan Stanley boosted their target price on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada upped their target price on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Leerink Partners increased their price target on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, June 17th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.08.

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.