Amalgamated Bank Cuts Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Amalgamated Bank decreased its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 37.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,744 shares of the biotechnology company’s stock after selling 20,978 shares during the quarter. Amalgamated Bank’s holdings in Arrowhead Pharmaceuticals were worth $455,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. KBC Group NV grew its holdings in shares of Arrowhead Pharmaceuticals by 40.8% in the first quarter. KBC Group NV now owns 7,356 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 2,132 shares during the last quarter. Wealth Effects LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 9.4% during the 1st quarter. Wealth Effects LLC now owns 170,550 shares of the biotechnology company’s stock valued at $2,173,000 after purchasing an additional 14,675 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Arrowhead Pharmaceuticals by 393.4% in the 1st quarter. State of Alaska Department of Revenue now owns 69,870 shares of the biotechnology company’s stock valued at $890,000 after acquiring an additional 55,708 shares during the period. Exchange Traded Concepts LLC grew its stake in Arrowhead Pharmaceuticals by 31.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 49,247 shares of the biotechnology company’s stock valued at $627,000 after acquiring an additional 11,879 shares during the period. Finally, Pinion Investment Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 100.0% during the 1st quarter. Pinion Investment Advisors LLC now owns 150,000 shares of the biotechnology company’s stock worth $1,911,000 after purchasing an additional 75,000 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR opened at $18.86 on Friday. The company has a market cap of $2.60 billion, a P/E ratio of -13.47, a PEG ratio of 22.21 and a beta of 0.93. The stock has a fifty day moving average price of $15.79 and a 200 day moving average price of $16.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.15 and a quick ratio of 5.15. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $9.57 and a 12 month high of $30.41.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Monday, May 12th. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $2.81. The business had revenue of $542.71 million for the quarter, compared to analyst estimates of $116.27 million. During the same quarter last year, the firm posted ($1.02) EPS. On average, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on ARWR. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, May 13th. Citigroup dropped their price target on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.71.

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.