California Public Employees Retirement System bought a new stake in Arrowhead Research Corp. (NASDAQ:ARWR) during the second quarter, Holdings Channel reports. The fund bought 274,900 shares of the company’s stock, valued at approximately $1,462,000. California Public Employees Retirement System owned approximately 0.46% of Arrowhead Research Corp. at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of ARWR. Emerald Acquisition Ltd. bought a new stake in shares of Arrowhead Research Corp. during the second quarter valued at about $390,000. Quantitative Investment Management LLC bought a new stake in shares of Arrowhead Research Corp. during the second quarter valued at about $132,000. California State Teachers Retirement System boosted its stake in shares of Arrowhead Research Corp. by 0.7% in the second quarter. California State Teachers Retirement System now owns 126,906 shares of the company’s stock valued at $675,000 after buying an additional 852 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Arrowhead Research Corp. by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 290,559 shares of the company’s stock valued at $1,547,000 after buying an additional 19,376 shares in the last quarter. Finally, Falcon Point Capital LLC boosted its stake in shares of Arrowhead Research Corp. by 12.5% in the second quarter. Falcon Point Capital LLC now owns 49,147 shares of the company’s stock valued at $261,000 after buying an additional 5,458 shares in the last quarter. Institutional investors own 33.92% of the company’s stock.
Shares of Arrowhead Research Corp. (NASDAQ:ARWR) traded down 2.90% during midday trading on Tuesday, hitting $7.03. 177,650 shares of the stock traded hands. Arrowhead Research Corp. has a 52-week low of $3.07 and a 52-week high of $8.22. The company’s market cap is $427.07 million. The stock has a 50-day moving average of $7.19 and a 200-day moving average of $6.10.
Arrowhead Research Corp. (NASDAQ:ARWR) last issued its earnings results on Tuesday, August 9th. The company reported ($0.32) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.05. The business earned $39.58 million during the quarter, compared to analysts’ expectations of $0.05 million. Arrowhead Research Corp. had a negative net margin of 48,980.81% and a negative return on equity of 100.50%. The company’s quarterly revenue was down 68.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.27) earnings per share. On average, equities analysts predict that Arrowhead Research Corp. will post ($1.31) earnings per share for the current fiscal year.
ARWR has been the topic of several analyst reports. Piper Jaffray Cos. dropped their price target on shares of Arrowhead Research Corp. from $13.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 10th. Cantor Fitzgerald started coverage on shares of Arrowhead Research Corp. in a report on Wednesday, August 17th. They issued a “buy” rating and a $15.00 price target on the stock. William Blair started coverage on shares of Arrowhead Research Corp. in a report on Friday, August 19th. They issued an “outperform” rating on the stock. Finally, Chardan Capital reiterated a “buy” rating and issued a $10.00 price target on shares of Arrowhead Research Corp. in a report on Wednesday, September 7th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Arrowhead Research Corp. currently has a consensus rating of “Buy” and an average target price of $10.11.
In related news, CFO Kenneth Allen Myszkowski sold 13,100 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $8.00, for a total transaction of $104,800.00. Following the completion of the sale, the chief financial officer now directly owns 128,789 shares in the company, valued at $1,030,312. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.90% of the company’s stock.
About Arrowhead Research Corp.
Arrowhead Pharmaceuticals, Inc, formerly Arrowhead Research Corporation, is a biopharmaceutical company. The Company is engaged in developing RiboNucleic Acid interference (RNAi) therapeutics. Its products include ARC-520, ARC-521, ARC-AAT, ARC-F12, ARC-HIF2 and ARC-LPA. ARC-520 is designed to treat chronic hepatitis B virus (HBV) infection.
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