Connor Clark & Lunn Investment Management Ltd. Buys Shares of 625,569 Arrowhead Pharmaceuticals, Inc. $ARWR

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 625,569 shares of the biotechnology company’s stock, valued at approximately $50,990,000.

Several other hedge funds and other institutional investors have also modified their holdings of ARWR. Royal Bank of Canada increased its position in Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock worth $576,000 after purchasing an additional 10,496 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the 1st quarter valued at about $514,000. Goldman Sachs Group Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 34.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after buying an additional 447,456 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Arrowhead Pharmaceuticals by 6.9% in the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 979 shares in the last quarter. Finally, Focus Partners Wealth increased its holdings in Arrowhead Pharmaceuticals by 1,339.5% in the first quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock worth $207,000 after buying an additional 15,123 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $86.73 on Tuesday. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. The business’s 50 day moving average is $83.04 and its two-hundred day moving average is $72.97. The company has a market cap of $12.22 billion, a P/E ratio of -38.55 and a beta of 1.27. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $20.44 and a 12 month high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.13). The business had revenue of $75.25 million during the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The firm’s revenue was up 171.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.26) earnings per share. On average, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.51 EPS for the current year.

Wall Street Analysts Forecast Growth

ARWR has been the subject of several analyst reports. B. Riley Financial lifted their price objective on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. HC Wainwright upped their target price on Arrowhead Pharmaceuticals from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 17th. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Chardan Capital raised their target price on shares of Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.33.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of the 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 completion of the sale, the director directly owned 111,459 shares of the company’s stock, valued at $9,730,370.70. This represents a 9.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the firm’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 completion of the sale, the director owned 31,600 shares in the company, valued at $2,747,936. This represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.60% of the stock is owned by corporate insiders.

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.