Principal Financial Group Inc. Has $17.56 Million Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Principal Financial Group Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Get Rating) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 432,957 shares of the biotechnology company’s stock after buying an additional 4,739 shares during the quarter. Principal Financial Group Inc. owned about 0.40% of Arrowhead Pharmaceuticals worth $17,561,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE lifted its position in shares of Arrowhead Pharmaceuticals by 6.5% in the 1st quarter. US Bancorp DE now owns 17,418 shares of the biotechnology company’s stock worth $801,000 after acquiring an additional 1,069 shares during the period. HighTower Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 4.9% during the first quarter. HighTower Advisors LLC now owns 16,988 shares of the biotechnology company’s stock valued at $779,000 after purchasing an additional 792 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Arrowhead Pharmaceuticals by 2.4% in the 1st quarter. Rhumbline Advisers now owns 289,502 shares of the biotechnology company’s stock valued at $13,314,000 after purchasing an additional 6,754 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Arrowhead Pharmaceuticals by 11.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,650 shares of the biotechnology company’s stock worth $1,778,000 after buying an additional 4,083 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Arrowhead Pharmaceuticals by 1.2% during the 1st quarter. BlackRock Inc. now owns 12,155,084 shares of the biotechnology company’s stock worth $559,014,000 after buying an additional 147,021 shares during the period. Institutional investors own 65.46% of the company’s stock.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 11,350 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $32.65, for a total value of $370,577.50. Following the transaction, the director now directly owns 7,867 shares of the company’s stock, valued at $256,857.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Adeoye Y. Olukotun sold 11,350 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $32.65, for a total value of $370,577.50. Following the sale, the director now directly owns 7,867 shares of the company’s stock, valued at $256,857.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Richard Anzalone sold 54,928 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $39.14, for a total value of $2,149,881.92. Following the completion of the transaction, the chief executive officer now owns 3,761,338 shares in the company, valued at approximately $147,218,769.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,653 shares of company stock valued at $2,814,852. Company insiders own 5.00% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $36.52 on Tuesday. The company has a market capitalization of $3.90 billion, a P/E ratio of -25.54 and a beta of 1.03. The business’s 50 day simple moving average is $31.09 and its 200 day simple moving average is $32.58. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $23.09 and a 1 year high of $48.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.65) by $1.10. The company had revenue of $146.27 million for the quarter, compared to analysts’ expectations of $45.48 million. Arrowhead Pharmaceuticals had a negative return on equity of 33.49% and a negative net margin of 53.83%. Arrowhead Pharmaceuticals’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. On average, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -1.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ARWR shares. Sanford C. Bernstein initiated coverage on Arrowhead Pharmaceuticals in a research note on Tuesday, March 21st. They set a “market perform” rating and a $27.00 price objective for the company. B. Riley reduced their price objective on shares of Arrowhead Pharmaceuticals from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 8th. SVB Leerink cut Arrowhead Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, May 12th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 10th. Finally, Robert W. Baird dropped their price target on Arrowhead Pharmaceuticals from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.54.

Arrowhead Pharmaceuticals Profile

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Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the development of medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC.