Sierra Summit Advisors LLC Buys New Holdings in Arrowhead Pharmaceuticals, Inc. $ARWR

Sierra Summit Advisors LLC purchased a new stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,353 shares of the biotechnology company’s stock, valued at approximately $900,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tsfg LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth about $25,000. iSAM Funds UK Ltd purchased a new stake in Arrowhead Pharmaceuticals during the third quarter worth approximately $29,000. First Horizon Corp acquired a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at $32,000. WPG Advisers LLC raised its position in Arrowhead Pharmaceuticals by 384.8% in the fourth quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 431 shares during the period. Finally, Hantz Financial Services Inc. raised its position in Arrowhead Pharmaceuticals by 177.1% in the fourth quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 471 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CFO Daniel Joseph Apel sold 13,095 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total value of $934,328.25. Following the transaction, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at $11,623,271.75. This represents a 7.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James C. Hamilton sold 10,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the transaction, the insider owned 226,958 shares in the company, valued at $17,021,850. This trade represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 26,065 shares of company stock valued at $1,912,662. Insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR opened at $83.99 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.23 and a quick ratio of 6.23. The firm has a 50-day moving average of $76.57 and a two-hundred day moving average of $68.67. The stock has a market cap of $11.83 billion, a P/E ratio of -39.06 and a beta of 1.26. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $14.30 and a 1-year high of $84.55.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $73.84 million. During the same period last year, the firm earned $2.75 earnings per share. The company’s revenue was down 86.4% on a year-over-year basis. On average, research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Chardan Capital reaffirmed a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. Wall Street Zen upgraded Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Royal Bank Of Canada boosted their price target on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. started coverage on Arrowhead Pharmaceuticals in a report on Friday, May 1st. They issued an “overweight” rating and a $88.00 price target for the company. Finally, Sanford C. Bernstein increased their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.27.

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.