Nordea Investment Management AB Buys 82,473 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Nordea Investment Management AB boosted its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 63.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 213,345 shares of the biotechnology company’s stock after purchasing an additional 82,473 shares during the quarter. Nordea Investment Management AB owned about 0.15% of Arrowhead Pharmaceuticals worth $3,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARWR. GAMMA Investing LLC grew its stake in Arrowhead Pharmaceuticals by 297.6% in the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 1,628 shares during the period. CWM LLC grew its stake in Arrowhead Pharmaceuticals by 134.3% in the first quarter. CWM LLC now owns 4,401 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 2,523 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Arrowhead Pharmaceuticals by 29.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,335 shares of the biotechnology company’s stock valued at $84,000 after acquiring an additional 1,214 shares during the period. KBC Group NV grew its stake in Arrowhead Pharmaceuticals by 40.8% in the first quarter. KBC Group NV now owns 7,356 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 2,132 shares during the period. Finally, XTX Topco Ltd acquired a new position in Arrowhead Pharmaceuticals in the first quarter valued at about $133,000. 62.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider James C. Hamilton sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total transaction of $700,000.00. Following the completion of the transaction, the insider directly owned 212,122 shares of the company’s stock, valued at approximately $7,424,270. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 60,000 shares of company stock worth $1,725,000 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ARWR shares. Wall Street Zen cut Arrowhead Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. B. Riley raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 11th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 11th. Finally, TD Cowen raised Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $38.03 on Wednesday. The stock has a 50 day moving average price of $29.51 and a 200 day moving average price of $20.15. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $9.57 and a 52 week high of $40.29. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.87 and a current ratio of 4.87. The stock has a market capitalization of $5.26 billion, a PE ratio of -29.71 and a beta of 1.13.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.32). The company had revenue of $27.77 million during the quarter, compared to analysts’ expectations of $29.01 million. During the same period in the previous year, the business earned ($1.38) earnings per share. Analysts predict that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.