Principal Financial Group Inc. Has $15.26 Million Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Principal Financial Group Inc. increased its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRGet Rating) by 14.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 433,385 shares of the biotechnology company’s stock after buying an additional 54,310 shares during the quarter. Principal Financial Group Inc. owned 0.41% of Arrowhead Pharmaceuticals worth $15,259,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ARWR. State Street Corp lifted its stake in shares of Arrowhead Pharmaceuticals by 19.9% in the 1st quarter. State Street Corp now owns 4,681,955 shares of the biotechnology company’s stock valued at $215,323,000 after purchasing an additional 777,184 shares during the period. Renaissance Technologies LLC acquired a new position in Arrowhead Pharmaceuticals during the 1st quarter worth approximately $17,490,000. Bank of America Corp DE grew its stake in Arrowhead Pharmaceuticals by 38.8% in the first quarter. Bank of America Corp DE now owns 826,932 shares of the biotechnology company’s stock valued at $38,030,000 after acquiring an additional 231,243 shares during the period. Candriam Luxembourg S.C.A. raised its position in shares of Arrowhead Pharmaceuticals by 356.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 270,054 shares of the biotechnology company’s stock worth $12,419,000 after purchasing an additional 210,867 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 23.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 784,616 shares of the biotechnology company’s stock worth $36,085,000 after purchasing an additional 148,438 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Arrowhead Pharmaceuticals Trading Down 0.5 %

NASDAQ ARWR opened at $29.40 on Friday. The stock has a market cap of $3.11 billion, a P/E ratio of -19.86 and a beta of 1.42. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.16. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $26.81 and a 12 month high of $74.77. The stock’s fifty day moving average price is $32.73 and its 200-day moving average price is $36.19.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ARWR shares. SVB Leerink upped their price objective on shares of Arrowhead Pharmaceuticals from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, November 10th. Morgan Stanley assumed coverage on Arrowhead Pharmaceuticals in a research report on Friday, September 9th. They set an “equal weight” rating and a $41.00 target price for the company. StockNews.com assumed coverage on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Chardan Capital raised their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $82.00 in a research note on Friday, August 5th. Finally, The Goldman Sachs Group increased their price target on Arrowhead Pharmaceuticals from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.00.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, insider Martin Javier San sold 19,500 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $29.99, for a total value of $584,805.00. Following the completion of the transaction, the insider now directly owns 91,500 shares in the company, valued at $2,744,085. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.

Arrowhead Pharmaceuticals Profile

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Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes ARO-AAT, a RNA interference (RNAi) therapeutic candidate that is in Phase II clinical trial for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3, which is in phase 2b and one phase 3 clinical trial to treat hypertriglyceridemia; ARO-ANG3 that is in Phase 2b clinical trial to reduce production of angiopoietin-like protein 3; ARO-HSD, which is in Phase 1/2a clinical trial to treat liver diseases; ARO-ENaC, which is in a Phase 1/2a clinical trial to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; ARO-C3 for the treatment of complement-mediated disease that is in Phase 1/2a clinical trial; ARO-Lung2 for the treatment of chronic obstructive pulmonary disorder; ARO-DUX4 for the treatment of facioscapulohumeral muscular dystrophy; ARO-XDH to treat uncontrolled gout; ARO-COV for the treatment of COVID-19 and other pulmonary-borne pathogens; and ARO-HIF2, which is in phase 1b clinical trial to treat clear cell renal cell carcinoma.

See Also

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Institutional Ownership by Quarter for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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