Fisher Asset Management LLC Sells 31,598 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Fisher Asset Management LLC lowered its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 6.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 451,655 shares of the biotechnology company’s stock after selling 31,598 shares during the quarter. Fisher Asset Management LLC’s holdings in Arrowhead Pharmaceuticals were worth $7,136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Virtus Advisers LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth about $34,000. Nisa Investment Advisors LLC raised its stake in Arrowhead Pharmaceuticals by 75.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock worth $48,000 after buying an additional 1,308 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Arrowhead Pharmaceuticals by 29.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,335 shares of the biotechnology company’s stock worth $84,000 after buying an additional 1,214 shares during the period. Bryce Point Capital LLC bought a new position in Arrowhead Pharmaceuticals in the second quarter worth approximately $164,000. Finally, XTX Topco Ltd acquired a new stake in Arrowhead Pharmaceuticals in the first quarter valued at approximately $133,000. 62.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $35.00, for a total value of $700,000.00. Following the sale, the insider directly owned 212,122 shares in the company, valued at $7,424,270. This represents a 8.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mauro Ferrari sold 8,750 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $56.39, for a total transaction of $493,412.50. Following the completion of the sale, the director directly owned 68,764 shares in the company, valued at $3,877,601.96. This represents a 11.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 43,750 shares of company stock worth $1,643,413 in the last ninety days. 4.30% of the stock is currently owned by insiders.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $64.66 on Friday. The firm has a 50-day moving average price of $41.44 and a 200-day moving average price of $27.16. The company has a quick ratio of 4.86, a current ratio of 4.86 and a debt-to-equity ratio of 0.43. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $9.57 and a twelve month high of $67.14. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of -808.15 and a beta of 1.28.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday. The Goldman Sachs Group lifted their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Finally, Bank of America boosted their price objective on Arrowhead Pharmaceuticals from $42.00 to $62.00 and gave the stock a “buy” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $53.33.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.