JPMorgan Chase & Co. Acquires 368,073 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

JPMorgan Chase & Co. boosted its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 90.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 775,717 shares of the biotechnology company’s stock after purchasing an additional 368,073 shares during the period. JPMorgan Chase & Co.’s holdings in Arrowhead Pharmaceuticals were worth $26,754,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ARWR. Marshall Wace LLP grew its holdings in shares of Arrowhead Pharmaceuticals by 3,507.8% during the second quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock worth $34,065,000 after purchasing an additional 2,096,238 shares during the last quarter. Norges Bank acquired a new position in Arrowhead Pharmaceuticals during the 2nd quarter worth about $30,414,000. Invesco Ltd. lifted its position in Arrowhead Pharmaceuticals by 142.8% during the 2nd quarter. Invesco Ltd. now owns 762,665 shares of the biotechnology company’s stock worth $12,050,000 after buying an additional 448,585 shares in the last quarter. 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 worth $22,189,000 after acquiring an additional 447,456 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Arrowhead Pharmaceuticals by 1,388.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 380,625 shares of the biotechnology company’s stock valued at $13,128,000 after acquiring an additional 355,056 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Trading Down 0.2%

NASDAQ:ARWR opened at $63.27 on Friday. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $76.76. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 41.35 and a beta of 1.21. The business’s 50-day moving average price is $66.12 and its two-hundred day moving average price is $48.55.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, February 5th. The biotechnology company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The company had revenue of $264.03 million during the quarter, compared to the consensus estimate of $225.66 million. During the same period last year, the company earned ($1.39) earnings per share. The business’s revenue was up 10461.3% compared to the same quarter last year. On average, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Christopher Richard Anzalone sold 13,187 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $66.10, for a total value of $871,660.70. Following the completion of the transaction, the chief executive officer owned 3,792,739 shares of the company’s stock, valued at $250,700,047.90. The trade was a 0.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick O’brien sold 49,493 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $63.11, for a total value of $3,123,503.23. Following the sale, the chief operating officer directly owned 474,908 shares in the company, valued at $29,971,443.88. The trade was a 9.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 502,086 shares of company stock valued at $33,109,648. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Chardan Capital upped their price objective on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. Royal Bank Of Canada boosted their target price on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Finally, Bank of America upped their price target on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.67.

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.