Bank of New York Mellon Corp Has $26.42 Million Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Bank of New York Mellon Corp lowered its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,039,993 shares of the biotechnology company’s stock after selling 27,116 shares during the period. Bank of New York Mellon Corp owned approximately 0.97% of Arrowhead Pharmaceuticals worth $26,416,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ARWR. Norges Bank acquired a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $60,235,000. State Street Corp grew its stake in Arrowhead Pharmaceuticals by 19.2% in the second quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company’s stock valued at $196,568,000 after acquiring an additional 900,791 shares during the period. Nomura Holdings Inc. grew its stake in Arrowhead Pharmaceuticals by 4,031.7% in the fourth quarter. Nomura Holdings Inc. now owns 649,548 shares of the biotechnology company’s stock valued at $26,302,000 after acquiring an additional 633,827 shares during the period. Millennium Management LLC grew its stake in Arrowhead Pharmaceuticals by 631.3% in the fourth quarter. Millennium Management LLC now owns 575,624 shares of the biotechnology company’s stock valued at $23,347,000 after acquiring an additional 496,910 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Arrowhead Pharmaceuticals in the first quarter valued at approximately $10,752,000. Institutional investors and hedge funds own 66.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARWR. StockNews.com began coverage on Arrowhead Pharmaceuticals in a research report on Thursday, August 17th. They set a “hold” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, August 9th. 500.com reiterated a “reiterates” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, May 3rd. TD Cowen initiated coverage on Arrowhead Pharmaceuticals in a report on Friday, July 21st. They set an “outperform” rating on the stock. Finally, SVB Leerink lowered Arrowhead Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Friday, May 12th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.07.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 15,000 shares of the stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $36.20, for a total transaction of $543,000.00. Following the sale, the chief financial officer now directly owns 381,704 shares in the company, valued at approximately $13,817,684.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Tracie Oliver sold 8,925 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.31, for a total value of $315,141.75. Following the transaction, the insider now directly owns 61,575 shares in the company, valued at approximately $2,174,213.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kenneth Allen Myszkowski sold 15,000 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $36.20, for a total value of $543,000.00. Following the completion of the transaction, the chief financial officer now owns 381,704 shares in the company, valued at $13,817,684.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,925 shares of company stock worth $964,732. Insiders own 5.00% of the company’s stock.

Arrowhead Pharmaceuticals Trading Down 0.5 %

NASDAQ ARWR opened at $27.91 on Friday. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $23.09 and a 1-year high of $42.68. The stock has a 50-day moving average of $33.01 and a 200-day moving average of $32.43. The firm has a market cap of $2.99 billion, a PE ratio of -16.32 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.38). The company had revenue of $15.83 million during the quarter, compared to analysts’ expectations of $45.42 million. Arrowhead Pharmaceuticals had a negative return on equity of 42.79% and a negative net margin of 69.38%. The business’s quarterly revenue was down 51.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.68) EPS. As a group, equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -1.6 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals Profile

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 for the treatment of dyslipidemia; ARO-HSD, which is completed phase 1/2 clinical trial to treat liver diseases; ARO-ENaC2, which is in pre-clinical stage for the treatment of dyslipidemia cystic fibrosis; ARO-C3 that is in phase 1/2a clinical trial to reduce production of complement component 3; ARO-DUX4, which is in pre-clinical stage for the treatment of facioscapulohumeral muscular dystrophy; ARO-XDH that is in phase 1 clinical trial to treat uncontrolled gout; ARO-COV, which is in pre-clinical stage for the treatment of COVID-19; ARO-RAGE, which is in phase 1/2a clinical trial to treat muco-obstructive or inflammatory pulmonary conditions; and ARO-MMP7 that is in phase 1/2a clinical trial for treatment of idiopathic pulmonary fibrosis.