Arrowhead Pharmaceuticals, Inc. $ARWR Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 63.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,582 shares of the biotechnology company’s stock after selling 89,204 shares during the period. Citigroup Inc.’s holdings in Arrowhead Pharmaceuticals were worth $1,779,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ARWR. PNC Financial Services Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 3.1% in the third quarter. PNC Financial Services Group Inc. now owns 10,924 shares of the biotechnology company’s stock worth $377,000 after acquiring an additional 326 shares in the last quarter. State of Wyoming lifted its position in shares of Arrowhead Pharmaceuticals by 5.6% in the 3rd quarter. State of Wyoming now owns 9,519 shares of the biotechnology company’s stock worth $328,000 after buying an additional 504 shares during the last quarter. Arizona State Retirement System lifted its holdings in Arrowhead Pharmaceuticals by 1.9% in the third quarter. Arizona State Retirement System now owns 32,661 shares of the biotechnology company’s stock worth $1,126,000 after acquiring an additional 620 shares during the last quarter. CWM LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 6.7% in the 3rd quarter. CWM LLC now owns 12,179 shares of the biotechnology company’s stock worth $420,000 after purchasing an additional 764 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its stake in Arrowhead Pharmaceuticals by 8.7% in the second quarter. Resona Asset Management Co. Ltd. now owns 11,218 shares of the biotechnology company’s stock valued at $180,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price target on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Weiss Ratings raised shares of Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, February 6th. Bank of America raised their price objective on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. B. Riley Financial lifted their target price on shares of Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Morgan Stanley upped their price target on Arrowhead Pharmaceuticals from $48.00 to $81.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $59.82 on Monday. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $9.57 and a twelve month high of $76.76. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.29. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 39.10 and a beta of 1.23. The business has a 50 day moving average price of $65.46 and a 200 day moving average price of $50.29.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). The company had revenue of $264.03 million for the quarter, compared to the consensus estimate of $225.66 million. Arrowhead Pharmaceuticals had a return on equity of 35.64% and a net margin of 18.54%.The company’s revenue was up 10461.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.39) EPS. Research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Activity at Arrowhead Pharmaceuticals

In other news, COO Patrick O’brien sold 49,493 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $63.11, for a total transaction of $3,123,503.23. Following the sale, the chief operating officer directly owned 474,908 shares in the company, valued at approximately $29,971,443.88. The trade was a 9.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mauro Ferrari sold 7,530 shares of the business’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $70.00, for a total transaction of $527,100.00. Following the completion of the sale, the director directly owned 69,053 shares in the company, valued at $4,833,710. This trade represents a 9.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 485,836 shares of company stock worth $32,117,910 in the last three months. Company insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Company 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.