Arrowhead Pharmaceuticals, Inc. $ARWR Holdings Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 1,388.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 380,625 shares of the biotechnology company’s stock after purchasing an additional 355,056 shares during the quarter. Assenagon Asset Management S.A. owned 0.28% of Arrowhead Pharmaceuticals worth $13,128,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Virtus Advisers LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the second quarter valued at $34,000. Nisa Investment Advisors LLC boosted its position in Arrowhead Pharmaceuticals by 75.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,308 shares during the period. Daiwa Securities Group Inc. grew its stake in Arrowhead Pharmaceuticals by 883.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,189 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 3,763 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arrowhead Pharmaceuticals by 29.5% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,335 shares of the biotechnology company’s stock valued at $84,000 after purchasing an additional 1,214 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Arrowhead Pharmaceuticals by 64.4% in the third quarter. GAMMA Investing LLC now owns 2,626 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 1,029 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Up 2.5%

ARWR stock opened at $68.16 on Friday. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of -851.89 and a beta of 1.28. The company has a 50-day moving average of $48.48 and a two-hundred day moving average of $31.11. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $9.57 and a 52-week high of $72.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ARWR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright boosted their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Piper Sandler upped their price target on shares of Arrowhead Pharmaceuticals from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 20th. Finally, Morgan Stanley upped their target price on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $61.89.

Insiders Place Their Bets

In related news, CEO Christopher Richard Anzalone sold 130,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $68.85, for a total transaction of $8,950,500.00. Following the completion of the sale, the chief executive officer owned 3,971,255 shares in the company, valued at $273,420,906.75. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James C. Hamilton sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total value of $700,000.00. Following the completion of the transaction, the insider directly owned 212,122 shares in the company, valued at approximately $7,424,270. This represents a 8.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 314,298 shares of company stock worth $19,977,019 over the last quarter. 4.30% of the stock is currently owned by company insiders.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.