Russell Investments Group Ltd. Purchases 23,538 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Russell Investments Group Ltd. boosted its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 10.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 247,817 shares of the biotechnology company’s stock after acquiring an additional 23,538 shares during the quarter. Russell Investments Group Ltd.’s holdings in Arrowhead Pharmaceuticals were worth $7,583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. purchased a new position in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at approximately $25,000. Fifth Third Bancorp boosted its holdings in Arrowhead Pharmaceuticals by 112.0% during the 3rd quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 522 shares during the period. Friedenthal Financial bought a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at $51,000. China Universal Asset Management Co. Ltd. increased its stake in Arrowhead Pharmaceuticals by 96.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,753 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 1,352 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Arrowhead Pharmaceuticals by 130.1% during the third quarter. Nisa Investment Advisors LLC now owns 5,270 shares of the biotechnology company’s stock worth $142,000 after purchasing an additional 2,980 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Trading Down 0.6 %

Shares of NASDAQ:ARWR opened at $25.00 on Wednesday. The company has a market capitalization of $3.10 billion, a PE ratio of -8.99 and a beta of 0.78. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $20.67 and a 12-month high of $41.36. The business’s fifty day simple moving average is $27.10 and its 200-day simple moving average is $28.74.

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

Insider Activity

In related news, Director Victoria Vakiener sold 1,799 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $41,934.69. Following the completion of the transaction, the director now owns 30,205 shares in the company, valued at approximately $704,078.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $35.19, for a total value of $1,407,600.00. Following the completion of the sale, the chief financial officer now owns 400,600 shares of the company’s stock, valued at $14,097,114. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Victoria Vakiener sold 1,799 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $41,934.69. Following the transaction, the director now owns 30,205 shares in the company, valued at approximately $704,078.55. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ARWR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. Citigroup lifted their price target on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Morgan Stanley boosted their price target on Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, February 8th. One investment 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.80.

Arrowhead Pharmaceuticals Company Profile

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.