VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Arrowhead Pharmaceuticals, Inc. $ARWR

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 43,350 shares of the biotechnology company’s stock, valued at approximately $3,533,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Royal Bank of Canada lifted its stake in Arrowhead Pharmaceuticals by 30.2% during the first quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after purchasing an additional 10,496 shares during the last quarter. AQR Capital Management LLC acquired a new position in Arrowhead Pharmaceuticals in the first quarter worth approximately $514,000. Goldman Sachs Group Inc. grew its position in Arrowhead Pharmaceuticals by 34.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock worth $22,189,000 after buying an additional 447,456 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 6.9% in the first 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 increased its holdings in shares of Arrowhead Pharmaceuticals by 1,339.5% in 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 in the last quarter. 62.61% of the stock is currently owned by institutional investors.

Insider Activity at Arrowhead Pharmaceuticals

In related news, Director Adeoye Olukotun sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the transaction, the director directly owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Perry sold 11,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the completion of the transaction, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. This represents a 9.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Stock Down 2.9%

NASDAQ:ARWR opened at $82.63 on Thursday. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of -36.72 and a beta of 1.28. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $27.80 and a 1-year high of $95.49. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. The business’s fifty day moving average price is $84.34 and its 200 day moving average price is $74.82.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The business had revenue of $75.25 million for the quarter, compared to analyst estimates of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The company’s revenue was up 171.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.26) earnings per share. On average, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARWR has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 17th. Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Citigroup assumed coverage on Arrowhead Pharmaceuticals in a report on Tuesday. They set a “buy” rating and a $108.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.15.

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.