Assenagon Asset Management S.A. Has $3.68 Million Position in Arrowhead Pharmaceuticals, Inc. $ARWR

Assenagon Asset Management S.A. decreased its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 91.4% in the 1st quarter, HoldingsChannel reports. The firm owned 58,735 shares of the biotechnology company’s stock after selling 626,154 shares during the period. Assenagon Asset Management S.A.’s holdings in Arrowhead Pharmaceuticals were worth $3,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tsfg LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at $25,000. iSAM Funds UK Ltd acquired a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth about $29,000. First Horizon Corp acquired a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $32,000. WPG Advisers LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 384.8% during the 4th quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock worth $36,000 after buying an additional 431 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 177.1% during the 4th quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company’s stock worth $49,000 after buying an additional 471 shares during the period. 62.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARWR. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, March 25th. Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $100.00 in a research note on Tuesday, April 21st. Sanford C. Bernstein lifted their price target on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, Leerink Partners boosted their price target on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.36.

Insiders Place Their Bets

In other news, Director Hongbo Lu sold 2,970 shares of the company’s stock in a transaction that occurred on 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 sale, the director 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 legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James C. Hamilton sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the sale, the insider owned 226,958 shares in the company, valued at $17,021,850. This represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 26,065 shares of company stock worth $1,912,662 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $80.50 on Tuesday. The business has a fifty day moving average price of $75.85 and a two-hundred day moving average price of $68.42. The stock has a market capitalization of $11.34 billion, a PE ratio of -37.44 and a beta of 1.28. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $14.30 and a fifty-two week high of $84.55.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. The company had revenue of $73.74 million for the quarter, compared to analysts’ expectations of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.Arrowhead Pharmaceuticals’s revenue was down 86.4% on a year-over-year basis. During the same quarter last year, the business earned $2.75 earnings per share. As a group, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year.

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.