HighTower Advisors LLC Has $11.44 Million Position in Arrowhead Pharmaceuticals, Inc. $ARWR

HighTower Advisors LLC cut its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,394 shares of the biotechnology company’s stock after selling 6,068 shares during the quarter. HighTower Advisors LLC owned approximately 0.10% of Arrowhead Pharmaceuticals worth $11,444,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ARWR. Versant Capital Management Inc grew its stake in Arrowhead Pharmaceuticals by 285.1% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 248 shares during the last quarter. Carolina Wealth Advisors LLC lifted its position in Arrowhead Pharmaceuticals by 80.6% during the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 154 shares during the last quarter. Tsfg LLC acquired a new stake in Arrowhead Pharmaceuticals during the fourth quarter worth approximately $25,000. Optiver Holding B.V. boosted its holdings in shares of Arrowhead Pharmaceuticals by 83.8% during the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 186 shares during the period. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Arrowhead Pharmaceuticals during the second quarter worth approximately $39,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Trading Down 2.9%

ARWR opened at $82.63 on Thursday. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of -36.72 and a beta of 1.28. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $27.80 and a twelve month high of $95.49. The company has a 50-day simple moving average of $84.34 and a 200 day simple moving average of $74.82.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its 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). The firm 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%. Arrowhead Pharmaceuticals’s quarterly revenue was up 171.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.26) earnings per share. Analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, Director Michael S. Perry sold 11,600 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the completion of the sale, the director directly owned 111,459 shares in the company, valued at $9,730,370.70. This represents a 9.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Adeoye Y. Olukotun sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the sale, the director directly owned 31,600 shares in the company, valued at approximately $2,747,936. This represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 1st. Piper Sandler reissued an “overweight” rating and issued a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Morgan Stanley increased their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Stifel Nicolaus began coverage on shares of Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a “buy” rating and a $98.00 target price on the stock. Finally, B. Riley Financial lifted their price target on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.15.

About Arrowhead Pharmaceuticals

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.