Fifth Third Bancorp Purchases 32,230 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Fifth Third Bancorp increased its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 2,648.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,447 shares of the biotechnology company’s stock after purchasing an additional 32,230 shares during the period. Fifth Third Bancorp’s holdings in Arrowhead Pharmaceuticals were worth $2,097,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, insider James C. Hamilton sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the insider directly owned 226,958 shares in the company, valued at $17,021,850. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hongbo Lu sold 2,970 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $76.88, for a total value of $228,333.60. Following the completion of the transaction, the director directly owned 52,012 shares in the company, valued at approximately $3,998,682.56. This trade represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock opened at $74.52 on Wednesday. The stock has a 50-day moving average price of $77.41 and a 200 day moving average price of $69.57. 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 firm has a market cap of $10.50 billion, a price-to-earnings ratio of -34.66 and a beta of 1.26. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $14.30 and a 12 month high of $87.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.17. The company had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The company’s revenue was down 86.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.75 EPS. Research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ARWR. Chardan Capital reiterated a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, June 30th. Morgan Stanley upgraded Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. Weiss Ratings lowered Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. raised their target price on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Finally, Royal Bank Of Canada lifted their price target on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

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.