Envestnet Asset Management Inc. Boosts Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Envestnet Asset Management Inc. grew its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,627 shares of the biotechnology company’s stock after purchasing an additional 1,632 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Arrowhead Pharmaceuticals were worth $3,365,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ARWR. US Bancorp DE grew its stake in Arrowhead Pharmaceuticals by 179.4% in the 1st quarter. US Bancorp DE now owns 12,595 shares of the biotechnology company’s stock valued at $836,000 after acquiring an additional 8,087 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Arrowhead Pharmaceuticals by 52.5% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,388 shares of the biotechnology company’s stock valued at $357,000 after acquiring an additional 1,856 shares during the period. Alliancebernstein L.P. grew its stake in Arrowhead Pharmaceuticals by 248.4% in the 1st quarter. Alliancebernstein L.P. now owns 1,065,997 shares of the biotechnology company’s stock valued at $70,686,000 after acquiring an additional 760,005 shares during the period. Arizona State Retirement System grew its stake in Arrowhead Pharmaceuticals by 0.8% in the 1st quarter. Arizona State Retirement System now owns 28,417 shares of the biotechnology company’s stock valued at $1,884,000 after acquiring an additional 235 shares during the period. Finally, Advisors Preferred LLC acquired a new stake in Arrowhead Pharmaceuticals in the 1st quarter valued at $1,287,000. 63.50% of the stock is owned by hedge funds and other institutional investors.

In related news, insider James Hassard sold 3,625 shares of the business’s stock in a transaction dated Tuesday, June 22nd. The shares were sold at an average price of $89.22, for a total value of $323,422.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas B. Given sold 4,500 shares of the business’s stock in a transaction dated Tuesday, June 22nd. The stock was sold at an average price of $89.21, for a total transaction of $401,445.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,125 shares of company stock worth $1,492,918. 3.50% of the stock is owned by insiders.

A number of research firms recently issued reports on ARWR. Chardan Capital dropped their price target on shares of Arrowhead Pharmaceuticals from $97.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday, August 6th. reaffirmed a “buy” rating and set a $95.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Friday, July 2nd. Piper Sandler lowered their target price on shares of Arrowhead Pharmaceuticals from $109.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, July 2nd. SVB Leerink reaffirmed a “hold” rating on shares of Arrowhead Pharmaceuticals in a research note on Sunday, June 27th. Finally, HC Wainwright lifted their target price on shares of Arrowhead Pharmaceuticals from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, August 10th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $87.33.

Shares of ARWR stock opened at $62.52 on Wednesday. The company’s 50-day moving average price is $64.82 and its 200-day moving average price is $70.04. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of -50.83 and a beta of 1.23. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $33.61 and a twelve month high of $93.66.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Wednesday, August 4th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.21). Arrowhead Pharmaceuticals had a negative net margin of 116.97% and a negative return on equity of 28.00%. On average, analysts expect that Arrowhead Pharmaceuticals, Inc. will post -0.79 EPS for the current fiscal year.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc operates as a biopharmaceutical company. It develops medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC. The company was founded by R.

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Institutional Ownership by Quarter for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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