ProShare Advisors LLC Trims Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

ProShare Advisors LLC cut its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 13.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,068 shares of the biotechnology company’s stock after selling 4,077 shares during the quarter. ProShare Advisors LLC’s holdings in Arrowhead Pharmaceuticals were worth $662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,157,575 shares of the biotechnology company’s stock valued at $29,402,000 after buying an additional 19,132 shares in the last quarter. Profund Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 193.4% in the first quarter. Profund Advisors LLC now owns 52,802 shares of the biotechnology company’s stock valued at $1,341,000 after buying an additional 34,803 shares in the last quarter. Platinum Investment Management Ltd. acquired a new stake in shares of Arrowhead Pharmaceuticals in the first quarter valued at $1,936,000. HighTower Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 6.4% in the first quarter. HighTower Advisors LLC now owns 33,552 shares of the biotechnology company’s stock valued at $868,000 after buying an additional 2,006 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Arrowhead Pharmaceuticals by 444.9% in the first quarter. Commonwealth Equity Services LLC now owns 34,172 shares of the biotechnology company’s stock valued at $867,000 after buying an additional 27,901 shares in the last quarter. 65.98% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $30.22 on Friday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -17.67 and a beta of 1.00. The business has a 50-day moving average of $31.64 and a two-hundred day moving average of $32.10. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $23.09 and a 1 year high of $42.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its 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). Arrowhead Pharmaceuticals had a negative net margin of 69.38% and a negative return on equity of 42.79%. The firm had revenue of $15.83 million during the quarter, compared to analysts’ expectations of $45.42 million. During the same period in the previous year, the firm posted ($0.68) earnings per share. The firm’s revenue for the quarter was down 51.2% on a year-over-year basis. As a group, equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -1.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on ARWR. Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, August 8th. SVB Securities cut Arrowhead Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $40.00 target price for the company. in a research note on Friday, May 12th. Royal Bank of Canada reissued an “outperform” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, August 8th. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $47.00 target price (down from $79.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, August 8th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.07.

Insider Activity

In other news, insider Tracie Oliver sold 8,925 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.31, for a total value of $315,141.75. Following the completion of the sale, the insider now directly owns 61,575 shares of the company’s stock, valued at approximately $2,174,213.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $35.53, for a total transaction of $106,590.00. Following the completion of the sale, the insider now directly owns 188,484 shares of the company’s stock, valued at approximately $6,696,836.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tracie Oliver sold 8,925 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.31, for a total value of $315,141.75. Following the sale, the insider now directly owns 61,575 shares of the company’s stock, valued at $2,174,213.25. The disclosure for this sale can be found here. In the last three months, insiders sold 26,925 shares of company stock valued at $964,732. Insiders own 5.00% of the company’s stock.

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.