Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 17.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,430 shares of the biotechnology company’s stock after selling 1,623 shares during the quarter. Federated Hermes Inc.’s holdings in Arrowhead Pharmaceuticals were worth $227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Strs Ohio lifted its holdings in shares of Arrowhead Pharmaceuticals by 7.1% in the fourth quarter. Strs Ohio now owns 28,500 shares of the biotechnology company’s stock valued at $872,000 after purchasing an additional 1,900 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $921,000. WCM Investment Management LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 13.6% in the fourth quarter. WCM Investment Management LLC now owns 172,865 shares of the biotechnology company’s stock valued at $5,359,000 after purchasing an additional 20,635 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $51,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $443,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Insiders Place Their Bets

In related news, Director Hongbo Lu purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were bought at an average price of $27.50 per share, with a total value of $27,500.00. Following the completion of the purchase, the director now directly owns 33,680 shares in the company, valued at approximately $926,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Arrowhead Pharmaceuticals news, Director Hongbo Lu acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was bought at an average price of $27.50 per share, with a total value of $27,500.00. Following the completion of the transaction, the director now directly owns 33,680 shares of the company’s stock, valued at $926,200. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Allen Myszkowski sold 40,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the completion of the sale, the chief financial officer now directly owns 400,600 shares of the company’s stock, valued at approximately $14,097,114. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ARWR has been the topic of several recent research reports. Citigroup upped their price target on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. Morgan Stanley upped their price objective on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.80.

Arrowhead Pharmaceuticals Stock Up 1.3 %

NASDAQ:ARWR opened at $24.44 on Monday. The company has a market cap of $3.03 billion, a P/E ratio of -8.79 and a beta of 0.78. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $20.67 and a fifty-two week high of $42.48. The firm’s 50 day moving average is $27.33 and its two-hundred day moving average is $28.75.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.46). The company had revenue of $3.55 million for the quarter, compared to analysts’ expectations of $35.60 million. Arrowhead Pharmaceuticals had a negative return on equity of 90.77% and a negative net margin of 163.32%. The business’s revenue for the quarter was down 94.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.39) EPS. Research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.7 earnings per share for the current fiscal year.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.