3.7% Stake of Arrowhead Pharmaceuticals Inc (ARWR) Held by Silence Therapeutics Plc
Silence Therapeutics Plc
stated that they own a 3.7% stake in Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Friday, December 8th. The investor owns 2,790,202 shares of the stock worth approximately $9,626,197. The filing is available through Edgar at this hyperlink.
provided the following explanation of their ownership:
The Reporting Person acquired the Common Stock of the Issuer in order to facilitate discussions regarding a possible transaction with the Issuer, which could have included, but was not limited to, product licensing, R&D collaboration, technology sharing or a potential corporate transaction. The Reporting Person has determined it may be advantageous to liquidate portions or all of its holdings of Common Stock from time to time in an orderly manner consistent with prudent management of its investment.
A number of other hedge funds also recently made changes to their positions in ARWR. Geode Capital Management LLC increased its position in Arrowhead Pharmaceuticals by 3.4% during the first quarter. Geode Capital Management LLC now owns 663,062 shares of the biotechnology company’s stock worth $1,226,000 after acquiring an additional 21,654 shares during the period. LMR Partners LLP acquired a new stake in Arrowhead Pharmaceuticals during the second quarter worth $467,000. Virtu KCG Holdings LLC boosted its stake in Arrowhead Pharmaceuticals by 115.6% during the second quarter. Virtu KCG Holdings LLC now owns 99,267 shares of the biotechnology company’s stock worth $161,000 after buying an additional 53,215 shares in the last quarter. ING Groep NV acquired a new stake in Arrowhead Pharmaceuticals during the third quarter worth $3,500,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Arrowhead Pharmaceuticals by 10.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 171,249 shares of the biotechnology company’s stock worth $742,000 after buying an additional 16,103 shares in the last quarter. 20.20% of the stock is currently owned by institutional investors and hedge funds.
Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) traded down $0.15 on Friday, reaching $3.45. 901,002 shares of the company’s stock were exchanged, compared to its average volume of 977,022. Arrowhead Pharmaceuticals Inc has a 1 year low of $1.20 and a 1 year high of $4.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.84 and a current ratio of 3.84.
A number of equities research analysts have weighed in on ARWR shares. ValuEngine downgraded shares of Arrowhead Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Piper Jaffray Companies upgraded shares of Arrowhead Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.50 price target on the stock in a research note on Monday, November 27th. William Blair upgraded shares of Arrowhead Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, September 18th. Cantor Fitzgerald reiterated a “hold” rating and set a $2.00 price target (up previously from $1.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, September 15th. Finally, BidaskClub downgraded shares of Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Arrowhead Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $3.17.
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About Arrowhead Pharmaceuticals
Arrowhead Pharmaceuticals, Inc, formerly Arrowhead Research Corporation, develops medicines that treat intractable diseases by silencing the genes that cause them. Using a portfolio of ribonucleic acid (RNA) chemistries and modes of delivery, the Company’s therapies trigger the RNA interference mechanism to induce knockdown of target genes.
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