Arrowhead Pharmaceuticals, Inc. $ARWR Stock Position Increased by Fifth Third Bancorp

Fifth Third Bancorp boosted its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 2,648.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,447 shares of the biotechnology company’s stock after buying an additional 32,230 shares during the quarter. Fifth Third Bancorp’s holdings in Arrowhead Pharmaceuticals were worth $2,097,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hsbc Holdings PLC bought a new stake in Arrowhead Pharmaceuticals during the first quarter worth approximately $9,451,000. First Horizon Corp lifted its position in shares of Arrowhead Pharmaceuticals by 36.2% during the 1st quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 174 shares during the last quarter. Capstone Capital Management Ltd bought a new stake in shares of Arrowhead Pharmaceuticals during the 1st quarter worth $987,000. Sierra Summit Advisors LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the 1st quarter worth $900,000. Finally, Private Advisor Group LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 43.3% in the 1st quarter. Private Advisor Group LLC now owns 15,426 shares of the biotechnology company’s stock worth $967,000 after acquiring an additional 4,663 shares during the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARWR has been the subject of a number of recent analyst reports. Weiss Ratings lowered Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Royal Bank Of Canada lifted their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Morgan Stanley upgraded shares of Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $78.00 to $100.00 in a report on Tuesday, April 21st. Finally, Sanford C. Bernstein upped their price target on shares of Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $74.52 on Wednesday. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 1.41. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of -34.66 and a beta of 1.26. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $14.30 and a 12 month high of $87.83. The company’s fifty day moving average is $77.41 and its 200-day moving average is $69.57.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.The company had revenue of $73.74 million during the quarter, compared to analysts’ expectations of $73.84 million. During the same quarter in the previous year, the firm earned $2.75 earnings per share. The business’s quarterly revenue was down 86.4% compared to the same quarter last year. Equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total value of $228,333.60. Following the transaction, the director directly owned 52,012 shares of the company’s stock, valued at $3,998,682.56. The trade was a 5.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James C. Hamilton sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the sale, the insider directly owned 226,958 shares of the company’s stock, valued at $17,021,850. This represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by insiders.

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.