Washington Trust Advisors Inc. Acquires 47,096 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Washington Trust Advisors Inc. grew its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 179.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,281 shares of the biotechnology company’s stock after purchasing an additional 47,096 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Arrowhead Pharmaceuticals were worth $4,796,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in Arrowhead Pharmaceuticals in the second quarter worth $1,208,838,000. Jupiter Topco LLC acquired a new position in Arrowhead Pharmaceuticals during the second quarter worth $99,623,000. Renaissance Technologies LLC acquired a new position in Arrowhead Pharmaceuticals during the first quarter worth $64,988,000. Bank of New York Mellon Corp bought a new position in Arrowhead Pharmaceuticals during the second quarter valued at about $70,061,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Arrowhead Pharmaceuticals during the second quarter valued at about $50,990,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

Insider Activity at Arrowhead Pharmaceuticals

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

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR traded down $0.34 during mid-day trading on Friday, hitting $58.02. 871,718 shares of the company’s stock traded hands, compared to its average volume of 1,916,049. The firm has a 50 day moving average of $72.62 and a two-hundred day moving average of $75.76. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $36.88 and a 12 month high of $95.49. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of -25.79 and a beta of 1.29. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.13). Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%. The business had revenue of $75.25 million during the quarter, compared to the consensus estimate of $44.17 million. During the same period in the prior year, the firm earned ($1.26) earnings per share. The business’s quarterly revenue was up 171.0% on a year-over-year basis. On average, equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARWR has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. Piper Sandler reissued an “overweight” rating and issued a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 23rd. B. Riley Financial boosted their target price on Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. UBS Group initiated coverage on Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. They set a “buy” rating and a $109.00 target price for the company. Finally, Stifel Nicolaus began coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a “buy” rating and a $98.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.07.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes using RNA interference (RNAi). The company’s proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi-based therapies to specific tissues and reduce the production of targeted proteins.

Arrowhead’s research and development programs address a range of conditions, including cardiometabolic, pulmonary, liver, and central nervous system diseases.