Arrowhead Pharmaceuticals, Inc. $ARWR Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 658.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,179 shares of the biotechnology company’s stock after buying an additional 47,902 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arrowhead Pharmaceuticals were worth $3,472,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC grew its position in Arrowhead Pharmaceuticals by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 3,264,963 shares of the biotechnology company’s stock worth $216,799,000 after purchasing an additional 133,921 shares during the period. Baker BROS. Advisors LP lifted its holdings in Arrowhead Pharmaceuticals by 30.2% in the fourth quarter. Baker BROS. Advisors LP now owns 2,175,645 shares of the biotechnology company’s stock valued at $144,441,000 after acquiring an additional 504,883 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Arrowhead Pharmaceuticals by 0.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,087,953 shares of the biotechnology company’s stock worth $138,619,000 after purchasing an additional 6,264 shares in the last quarter. Fred Alger Management LLC boosted its position in Arrowhead Pharmaceuticals by 497.4% in the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock worth $121,693,000 after purchasing an additional 1,526,164 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after purchasing an additional 447,456 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, Director Hongbo Lu sold 2,970 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was 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 approximately $3,998,682.56. This represents a 5.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by insiders.

Arrowhead Pharmaceuticals Stock Down 1.4%

Shares of Arrowhead Pharmaceuticals stock opened at $85.60 on Friday. The company has a market capitalization of $12.06 billion, a P/E ratio of -39.81 and a beta of 1.26. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. The company has a 50 day moving average of $77.94 and a 200 day moving average of $69.97. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $15.01 and a 52-week high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (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 company had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. During the same period last year, the firm posted $2.75 EPS. Arrowhead Pharmaceuticals’s revenue for the quarter was down 86.4% on a year-over-year basis. As a group, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ARWR shares. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 1st. Leerink Partners increased their price target on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 17th. Weiss Ratings lowered Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Stifel Nicolaus assumed coverage on Arrowhead Pharmaceuticals in a research report on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price objective for the company. Finally, Sanford C. Bernstein upped their target price on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.83.

Arrowhead Pharmaceuticals Company 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.