CIBC Asset Management Inc Takes Position in Arrowhead Pharmaceuticals, Inc. $ARWR

CIBC Asset Management Inc acquired a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,204 shares of the biotechnology company’s stock, valued at approximately $317,000.

Several other large investors also recently added to or reduced their stakes in ARWR. Marshall Wace LLP raised its position in Arrowhead Pharmaceuticals by 3,507.8% in the second quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock worth $34,065,000 after acquiring an additional 2,096,238 shares during the period. Norges Bank purchased a new stake in shares of Arrowhead Pharmaceuticals in the 2nd quarter worth $30,414,000. Invesco Ltd. raised its holdings in Arrowhead Pharmaceuticals by 142.8% in the 2nd quarter. Invesco Ltd. now owns 762,665 shares of the biotechnology company’s stock worth $12,050,000 after purchasing an additional 448,585 shares during the period. Goldman Sachs Group Inc. lifted its position in Arrowhead Pharmaceuticals by 34.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company’s stock valued at $22,189,000 after purchasing an additional 447,456 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Arrowhead Pharmaceuticals by 1,388.6% during the third quarter. Assenagon Asset Management S.A. now owns 380,625 shares of the biotechnology company’s stock valued at $13,128,000 after purchasing an additional 355,056 shares during the period. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Trading Down 2.0%

Shares of ARWR opened at $65.58 on Thursday. The firm has a market cap of $8.91 billion, a P/E ratio of -819.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $9.57 and a 1 year high of $76.76. The company has a 50 day simple moving average of $64.01 and a two-hundred day simple moving average of $41.11.

Analyst Ratings Changes

Several research analysts have recently commented on ARWR shares. B. Riley raised their price objective on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. HC Wainwright boosted their price objective on Arrowhead Pharmaceuticals from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Morgan Stanley increased their target price on shares of Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price target (up previously from $100.00) on shares of Arrowhead Pharmaceuticals in a report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Insiders Place Their Bets

In related news, Director Adeoye Y. Olukotun sold 10,000 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $67.66, for a total value of $676,600.00. Following the sale, the director directly owned 33,600 shares in the company, valued at approximately $2,273,376. The trade was a 22.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick O’brien sold 49,493 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $63.11, for a total value of $3,123,503.23. Following the transaction, the chief operating officer directly owned 474,908 shares of the company’s stock, valued at approximately $29,971,443.88. The trade was a 9.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 510,836 shares of company stock worth $33,603,060. 4.30% of the stock is owned by corporate insiders.

Arrowhead Pharmaceuticals Profile

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.