State of Wyoming Cuts Stock Position in Arrowhead Pharmaceuticals, Inc. $ARWR

State of Wyoming cut its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 58.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,209 shares of the biotechnology company’s stock after selling 5,901 shares during the quarter. State of Wyoming’s holdings in Arrowhead Pharmaceuticals were worth $264,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ARWR. Royal Bank of Canada boosted its stake in shares of Arrowhead Pharmaceuticals by 30.2% in the first quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock worth $576,000 after acquiring an additional 10,496 shares during the period. AQR Capital Management LLC bought a new position in Arrowhead Pharmaceuticals in the 1st quarter worth approximately $514,000. Goldman Sachs Group Inc. grew its holdings in 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 valued at $22,189,000 after buying an additional 447,456 shares in the last quarter. Empowered Funds LLC grew its holdings in Arrowhead Pharmaceuticals by 6.9% during the 1st quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 979 shares in the last quarter. Finally, Focus Partners Wealth raised its position in shares of Arrowhead Pharmaceuticals by 1,339.5% during the first quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 15,123 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. HC Wainwright lifted their price target on shares of Arrowhead Pharmaceuticals from $100.00 to $115.00 and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus started coverage on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, July 14th. They issued a “buy” rating and a $98.00 price target on the stock. Piper Sandler reissued an “overweight” rating and set a $126.00 price objective (up from $110.00) on shares of Arrowhead Pharmaceuticals in a report on Thursday, July 23rd. Finally, Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $95.08.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of the business’s 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 owned 52,012 shares in the company, valued at $3,998,682.56. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 Trading Up 0.3%

Shares of ARWR opened at $85.78 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $15.01 and a twelve month high of $95.49. The company has a market cap of $12.08 billion, a P/E ratio of -39.90 and a beta of 1.26. 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 company’s fifty day simple moving average is $78.43 and its 200-day simple moving average is $70.26.

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, topping the consensus estimate of ($1.10) by $0.17. The firm had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative net margin of 48.38% and a negative return on equity of 55.09%. The business’s revenue was down 86.4% on a year-over-year basis. During the same quarter last year, the business earned $2.75 EPS. As a group, analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.08 EPS for the current 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.