Fred Alger Management LLC Purchases 1,526,164 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Fred Alger Management LLC boosted its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 497.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,832,997 shares of the biotechnology company’s stock after purchasing an additional 1,526,164 shares during the quarter. Fred Alger Management LLC’s holdings in Arrowhead Pharmaceuticals were worth $121,693,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ARWR. Tsfg LLC bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at $25,000. iSAM Funds UK Ltd bought a new stake in Arrowhead Pharmaceuticals in the 3rd quarter valued at $29,000. First Horizon Corp bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at $32,000. WPG Advisers LLC boosted its stake in Arrowhead Pharmaceuticals by 384.8% in the 4th quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 431 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in Arrowhead Pharmaceuticals by 177.1% in the 4th quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 471 shares during the period. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $76.55 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $14.30 and a 52 week high of $82.26. The stock has a market capitalization of $10.78 billion, a P/E ratio of -35.60 and a beta of 1.28. The stock has a fifty day moving average of $73.09 and a 200-day moving average of $67.21.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The company had revenue of $73.74 million during the quarter, compared to analysts’ expectations of $73.84 million. During the same quarter in the previous year, the firm earned $2.75 EPS. Arrowhead Pharmaceuticals’s revenue was down 86.4% on a year-over-year basis. On average, sell-side analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, CFO Daniel Joseph Apel sold 13,095 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was 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 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. The transaction was disclosed in a 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James C. Hamilton sold 10,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the insider directly owned 226,958 shares of the company’s stock, valued at $17,021,850. This trade represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 26,065 shares of company stock valued at $1,912,662. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

ARWR has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on Arrowhead Pharmaceuticals in a research note on Friday, May 1st. They issued an “overweight” rating and a $88.00 price target for the company. Weiss Ratings downgraded Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. 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. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, March 25th. Finally, Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.