CIBC Asset Management Inc Buys New Stake in Arrowhead Pharmaceuticals, Inc. $ARWR

CIBC Asset Management Inc purchased a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,204 shares of the biotechnology company’s stock, valued at approximately $317,000.

Several other institutional investors have also bought and sold shares of ARWR. Marex Group plc purchased a new stake in Arrowhead Pharmaceuticals during the 2nd quarter valued at $576,000. Nordea Investment Management AB boosted its stake in Arrowhead Pharmaceuticals by 74.5% during the third quarter. Nordea Investment Management AB now owns 372,282 shares of the biotechnology company’s stock worth $12,661,000 after buying an additional 158,937 shares during the period. Marshall Wace LLP boosted its stake in Arrowhead Pharmaceuticals by 3,507.8% during the second quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock worth $34,065,000 after buying an additional 2,096,238 shares during the period. HBK Sorce Advisory LLC bought a new position in Arrowhead Pharmaceuticals during the third quarter valued at $2,823,000. Finally, Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals in the second quarter valued at $30,414,000. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $65.58 on Thursday. The firm’s 50 day simple moving average is $64.01 and its 200-day simple moving average is $41.11. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.86 and a current ratio of 4.86. Arrowhead Pharmaceuticals, Inc. has a one year low of $9.57 and a one year high of $76.76. The firm has a market cap of $8.91 billion, a PE ratio of -819.65 and a beta of 1.21.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. B. Riley lifted their price target on shares of Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Piper Sandler reissued an “overweight” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, January 13th. Bank of America upped their target price on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, January 21st. Finally, Morgan Stanley raised their price target on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 40,164 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $63.11, for a total transaction of $2,534,750.04. Following the transaction, the insider owned 171,958 shares in the company, valued at approximately $10,852,269.38. This trade represents a 18.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael S. Perry sold 16,250 shares of Arrowhead Pharmaceuticals stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $61.03, for a total value of $991,737.50. Following the completion of the sale, the director owned 115,240 shares of the company’s stock, valued at $7,033,097.20. The trade was a 12.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 510,836 shares of company stock valued at $33,603,060. Company insiders own 4.30% of the company’s stock.

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.