370,000 Shares in Arrowhead Pharmaceuticals, Inc. $ARWR Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC purchased a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 370,000 shares of the biotechnology company’s stock, valued at approximately $24,564,000. Eventide Asset Management LLC owned 0.26% of Arrowhead Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in Arrowhead Pharmaceuticals by 2,569.6% in the 4th quarter. M&T Bank Corp now owns 240,634 shares of the biotechnology company’s stock worth $15,976,000 after purchasing an additional 231,620 shares during the period. Erste Asset Management GmbH boosted its stake in Arrowhead Pharmaceuticals by 55.3% in the 3rd quarter. Erste Asset Management GmbH now owns 73,000 shares of the biotechnology company’s stock worth $2,466,000 after purchasing an additional 26,000 shares during the period. Fisher Asset Management LLC boosted its stake in Arrowhead Pharmaceuticals by 133.3% in the 3rd quarter. Fisher Asset Management LLC now owns 1,053,794 shares of the biotechnology company’s stock worth $36,345,000 after purchasing an additional 602,139 shares during the period. JPMorgan Chase & Co. boosted its stake in Arrowhead Pharmaceuticals by 90.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 775,717 shares of the biotechnology company’s stock worth $26,754,000 after purchasing an additional 368,073 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Arrowhead Pharmaceuticals by 3.1% during the 3rd quarter. Rhumbline Advisers now owns 371,112 shares of the biotechnology company’s stock valued at $12,800,000 after purchasing an additional 11,115 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Stock Up 0.1%

ARWR opened at $74.52 on Friday. The firm has a 50-day simple moving average of $72.46 and a two-hundred day simple moving average of $66.71. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $14.30 and a 52 week high of $82.26. The company has a market capitalization of $10.50 billion, a PE ratio of -34.66 and a beta of 1.28. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $73.84 million. During the same period in the prior year, the company earned $2.75 EPS. The business’s revenue was down 86.4% compared to the same quarter last year. Analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year.

Insider Activity at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 10,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the transaction, the insider owned 226,958 shares of the company’s stock, valued at approximately $17,021,850. This trade represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the transaction, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at approximately $11,623,271.75. The trade was a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 26,065 shares of company stock valued at $1,912,662. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ARWR shares. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, March 25th. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $100.00 in a report on Tuesday, April 21st. Royal Bank Of Canada increased their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. started coverage on shares of Arrowhead Pharmaceuticals in a report on Friday, May 1st. They set an “overweight” rating and a $88.00 price objective for the company. Finally, Weiss Ratings downgraded shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.80.

Arrowhead Pharmaceuticals Profile

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.