Legal & General Group Plc Acquires 8,937 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Legal & General Group Plc lifted its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 395,311 shares of the biotechnology company’s stock after purchasing an additional 8,937 shares during the period. Legal & General Group Plc owned about 0.28% of Arrowhead Pharmaceuticals worth $26,245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ARWR. Arrowstreet Capital Limited Partnership grew its holdings in shares of Arrowhead Pharmaceuticals by 3,142.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock valued at $71,797,000 after purchasing an additional 2,017,489 shares during the last quarter. Deerfield Management Company L.P. bought a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter valued at $34,249,000. Balyasny Asset Management L.P. bought a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter valued at $27,349,000. Pictet Asset Management Holding SA grew its holdings in shares of Arrowhead Pharmaceuticals by 253.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,028,736 shares of the biotechnology company’s stock valued at $68,636,000 after purchasing an additional 737,713 shares during the last quarter. Finally, Baker BROS. Advisors LP grew its holdings in shares of Arrowhead Pharmaceuticals by 77.9% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,670,762 shares of the biotechnology company’s stock valued at $57,625,000 after purchasing an additional 731,588 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total transaction of $228,333.60. Following the completion of the transaction, the director directly owned 52,012 shares of the company’s stock, valued at $3,998,682.56. This trade represents a 5.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the transaction, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at approximately $11,623,271.75. This trade represents a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 36,065 shares of company stock valued at $2,554,562. Company insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR opened at $77.91 on Monday. The company has a 50-day moving average price of $69.56 and a 200-day moving average price of $64.57. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $14.30 and a 12 month high of $82.26. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of -36.24 and a beta of 1.28.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The firm had revenue of $73.74 million during the quarter, compared to analysts’ expectations of $73.84 million. During the same period last year, the company posted $2.75 EPS. The company’s quarterly revenue was down 86.4% compared to the same quarter last year. Equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.98 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ARWR shares. Wall Street Zen cut shares of Arrowhead Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings cut shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Morgan Stanley raised shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. Royal Bank Of Canada increased their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. started coverage on shares of Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an “overweight” rating and a $88.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.