Assenagon Asset Management S.A. Has $289,000 Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Assenagon Asset Management S.A. trimmed its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 57.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,701 shares of the biotechnology company’s stock after selling 30,312 shares during the period. Assenagon Asset Management S.A.’s holdings in Arrowhead Pharmaceuticals were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Arrowhead Pharmaceuticals by 297.6% during the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company’s stock worth $28,000 after buying an additional 1,628 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $49,000. Van ECK Associates Corp raised its position in shares of Arrowhead Pharmaceuticals by 72.3% in the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 1,250 shares during the period. Mackenzie Financial Corp bought a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $137,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter valued at about $190,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on ARWR. Citigroup dropped their price objective on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Chardan Capital reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 20th. Finally, Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.71.

Arrowhead Pharmaceuticals Trading Up 0.8%

ARWR stock opened at $15.62 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.15 and a current ratio of 5.15. The company’s 50-day simple moving average is $14.61 and its 200 day simple moving average is $16.96. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $9.57 and a 52 week high of $30.41. The company has a market capitalization of $2.16 billion, a PE ratio of -11.16, a price-to-earnings-growth ratio of 18.37 and a beta of 0.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 EPS for the quarter, beating the consensus estimate of ($0.06) by $2.81. The business had revenue of $542.71 million during the quarter, compared to analyst estimates of $116.27 million. During the same quarter last year, the company posted ($1.02) earnings per share. As a group, sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 50,800 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $11.49, for a total transaction of $583,692.00. Following the sale, the chief executive officer now directly owns 3,921,255 shares in the company, valued at $45,055,219.95. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.30% of the stock is currently owned by corporate insiders.

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.