16,991 Shares in Arrowhead Pharmaceuticals, Inc. $ARWR Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,991 shares of the biotechnology company’s stock, valued at approximately $1,385,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Carolina Wealth Advisors LLC increased its stake in Arrowhead Pharmaceuticals by 80.6% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 154 shares during the period. CWM LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 1.4% in the 4th quarter. CWM LLC now owns 12,347 shares of the biotechnology company’s stock worth $820,000 after acquiring an additional 168 shares during the period. First Horizon Corp lifted its stake in shares of Arrowhead Pharmaceuticals by 36.2% in the 1st quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 174 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company’s stock valued at $737,000 after acquiring an additional 178 shares in the last quarter. Finally, Optiver Holding B.V. boosted its holdings in shares of Arrowhead Pharmaceuticals by 83.8% in the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 186 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

Wall Street Analyst Weigh In

ARWR has been the topic of several recent analyst reports. Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Sanford C. Bernstein increased their price target on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Piper Sandler reiterated an “overweight” rating and set a $126.00 price target (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. Chardan Capital boosted their price objective on Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.33.

Insiders Place Their Bets

In other news, Director Michael S. Perry sold 11,600 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the completion of the sale, the director directly owned 111,459 shares of the company’s stock, valued at $9,730,370.70. This trade represents a 9.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Adeoye Y. Olukotun sold 2,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the transaction, the director owned 31,600 shares in the company, valued at $2,747,936. The trade was a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.60% of the stock is currently owned by corporate insiders.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR opened at $87.11 on Monday. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $20.44 and a 12 month high of $95.49. The company has a market capitalization of $12.27 billion, a P/E ratio of -38.72 and a beta of 1.27. The company’s 50 day simple moving average is $82.84 and its 200 day simple moving average is $72.87. The company has a debt-to-equity ratio of 1.77, a current ratio of 5.90 and a quick ratio of 5.90.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The business had revenue of $75.25 million for the quarter, compared to the consensus estimate of $44.17 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.The company’s quarterly revenue was up 171.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.26) earnings per share. Equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3.51 earnings per share for the current fiscal year.

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.