Russell Investments Group Ltd. Cuts Stake in Arrowhead Pharmaceuticals, Inc. $ARWR

Russell Investments Group Ltd. lowered its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 96.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,629 shares of the biotechnology company’s stock after selling 177,660 shares during the period. Russell Investments Group Ltd.’s holdings in Arrowhead Pharmaceuticals were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Exchange Traded Concepts LLC raised its stake in Arrowhead Pharmaceuticals by 31.8% during the first quarter. Exchange Traded Concepts LLC now owns 49,247 shares of the biotechnology company’s stock worth $627,000 after purchasing an additional 11,879 shares during the period. Raymond James Financial Inc. purchased a new position in Arrowhead Pharmaceuticals in the fourth quarter valued at approximately $651,000. GAMMA Investing LLC increased its stake in Arrowhead Pharmaceuticals by 297.6% in the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,628 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Arrowhead Pharmaceuticals by 6.9% in the first quarter. New York State Teachers Retirement System now owns 148,376 shares of the biotechnology company’s stock valued at $1,890,000 after acquiring an additional 9,593 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 117.8% in the 1st quarter. Principal Financial Group Inc. now owns 629,075 shares of the biotechnology company’s stock valued at $8,014,000 after purchasing an additional 340,191 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider James C. Hamilton sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $25.00, for a total value of $375,000.00. Following the completion of the transaction, the insider directly owned 247,122 shares in the company, valued at $6,178,050. This trade represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 25,000 shares of company stock valued at $575,000 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ARWR. B. Riley upgraded Arrowhead Pharmaceuticals to a “strong-buy” rating in a research note on Monday, August 11th. Royal Bank Of Canada dropped their target price on Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Citigroup lowered their price target on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 11th. Finally, TD Cowen upgraded shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $43.14.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $28.00 on Friday. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $18.52 and a 200-day simple moving average of $16.20. The company has a market cap of $3.87 billion, a PE ratio of -21.88 and a beta of 1.00. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $9.57 and a 12-month high of $29.34.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The firm had revenue of $27.77 million during the quarter, compared to analyst estimates of $29.01 million. During the same period in the previous year, the company posted ($1.38) EPS. On average, equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current 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.