Seven Eight Capital LP bought a new stake in Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 108,984 shares of the biotechnology company’s stock, valued at approximately $2,089,000.
A number of other large investors have also recently modified their holdings of the stock. First Allied Advisory Services Inc. lifted its stake in Arrowhead Pharmaceuticals by 5.5% in the 2nd quarter. First Allied Advisory Services Inc. now owns 64,350 shares of the biotechnology company’s stock valued at $875,000 after purchasing an additional 3,350 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Arrowhead Pharmaceuticals by 28.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 25,200 shares of the biotechnology company’s stock valued at $343,000 after purchasing an additional 5,650 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Arrowhead Pharmaceuticals in the 2nd quarter valued at about $100,000. Great West Life Assurance Co. Can acquired a new stake in Arrowhead Pharmaceuticals in the 2nd quarter valued at about $106,000. Finally, United Services Automobile Association lifted its stake in Arrowhead Pharmaceuticals by 69.6% in the 2nd quarter. United Services Automobile Association now owns 19,043 shares of the biotechnology company’s stock valued at $259,000 after purchasing an additional 7,816 shares during the last quarter. Institutional investors and hedge funds own 59.37% of the company’s stock.
In other news, CFO Kenneth Allen Myszkowski sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $19.34, for a total transaction of $870,300.00. Following the transaction, the chief financial officer now directly owns 335,815 shares of the company’s stock, valued at $6,494,662.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Richard Anzalone sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $14.45, for a total transaction of $1,445,000.00. Following the transaction, the chief executive officer now directly owns 1,868,789 shares in the company, valued at $27,004,001.05. The disclosure for this sale can be found here. Insiders have sold 309,834 shares of company stock valued at $4,697,151 over the last 90 days. Company insiders own 4.60% of the company’s stock.
Several equities research analysts recently issued reports on ARWR shares. Jefferies Financial Group raised their target price on shares of Arrowhead Pharmaceuticals to $24.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Cantor Fitzgerald initiated coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, August 1st. They issued a “buy” rating and a $13.00 target price for the company. B. Riley upgraded shares of Arrowhead Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.00 to $19.00 in a research report on Thursday, September 6th. Chardan Capital raised their price objective on shares of Arrowhead Pharmaceuticals from $17.50 to $24.50 and gave the stock a “buy” rating in a research report on Thursday, September 6th. Finally, BidaskClub downgraded shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $21.45.
Shares of ARWR stock opened at $12.98 on Tuesday. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.02. Arrowhead Pharmaceuticals Inc has a 12-month low of $3.01 and a 12-month high of $22.39.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Tuesday, August 7th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.01. The firm had revenue of $0.73 million during the quarter, compared to the consensus estimate of $0.62 million. Arrowhead Pharmaceuticals had a negative net margin of 400.13% and a negative return on equity of 59.39%. Equities research analysts expect that Arrowhead Pharmaceuticals Inc will post -0.65 EPS for the current year.
Arrowhead Pharmaceuticals Profile
Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. Its pre-clinical stage medicines include ARO-HBV to treat chronic hepatitis B virus infection; ARO-AAT for the treatment of liver disease associated with alpha-1 antitrypsin deficiency; ARO-APOC3 and ARO-ANG3 to treat hypertriglyceridemia; ARO-Lung1 for the treatment of an undisclosed pulmonary target; ARO-HIF2 to treat renal cell carcinoma; ARO-F12 for hereditary angioedema and thromboembolic disorders; and ARO-AMG1 for the treatment of an undisclosed genetically validated cardiovascular target.
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