Geode Capital Management LLC Trims Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Geode Capital Management LLC lessened its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 0.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,954,947 shares of the biotechnology company’s stock after selling 9,172 shares during the period. Geode Capital Management LLC owned 2.36% of Arrowhead Pharmaceuticals worth $55,566,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $38,622,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Arrowhead Pharmaceuticals by 23.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,281 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 2,556 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $233,000. KLP Kapitalforvaltning AS bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth $434,000. Finally, Virtu Financial LLC purchased a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $381,000. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $11.79 on Monday. The firm has a market cap of $1.62 billion, a PE ratio of -2.28 and a beta of 0.99. The company’s fifty day simple moving average is $16.07 and its two-hundred day simple moving average is $18.86. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $9.57 and a 12-month high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.97). As a group, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. B. Riley restated a “buy” rating and issued a $38.00 target price (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Chardan Capital restated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.44.

Insider Activity

In other news, CEO Christopher Richard Anzalone sold 133,333 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $17.02, for a total transaction of $2,269,327.66. Following the sale, the chief executive officer now owns 3,773,802 shares of the company’s stock, valued at approximately $64,230,110.04. The trade was a 3.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 276,839 shares of company stock valued at $4,054,176. Company insiders own 4.30% of the company’s stock.

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.