Summitry LLC Invests $450,000 in Arrowhead Pharmaceuticals, Inc. $ARWR

Summitry LLC purchased a new stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,183 shares of the biotechnology company’s stock, valued at approximately $450,000.

Other large investors have also made changes to their positions in the company. CWM LLC raised its position in Arrowhead Pharmaceuticals by 1.4% during the fourth quarter. CWM LLC now owns 12,347 shares of the biotechnology company’s stock valued at $820,000 after acquiring an additional 168 shares in the last quarter. First Horizon Corp lifted its stake in Arrowhead Pharmaceuticals by 36.2% in the first quarter. First Horizon Corp now owns 654 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 174 shares during the last quarter. PNC Financial Services Group Inc. grew its position in 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 worth $737,000 after acquiring an additional 178 shares in the last quarter. HighTower Advisors LLC grew its position in Arrowhead Pharmaceuticals by 0.3% in the fourth quarter. HighTower Advisors LLC now owns 133,229 shares of the biotechnology company’s stock worth $8,845,000 after acquiring an additional 340 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in shares of Arrowhead Pharmaceuticals by 1.8% during the 4th quarter. Maryland State Retirement & Pension System now owns 20,241 shares of the biotechnology company’s stock worth $1,344,000 after purchasing an additional 365 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Chardan Capital raised their price target on shares of Arrowhead Pharmaceuticals from $90.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of Arrowhead Pharmaceuticals from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. B. Riley Financial increased their target price on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus assumed coverage on Arrowhead Pharmaceuticals in a report on Tuesday, July 14th. They set a “buy” rating and a $98.00 target price on the stock. Finally, Weiss Ratings cut Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Nine 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.92.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR opened at $84.65 on Friday. The firm’s 50-day moving average is $79.04 and its 200-day moving average is $70.67. The company has a market cap of $11.92 billion, a price-to-earnings ratio of -39.37 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a quick ratio of 6.23 and a current ratio of 6.23. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $15.01 and a 52-week high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $73.74 million for the quarter, compared to the consensus estimate of $73.84 million. During the same period last year, the business earned $2.75 earnings per share. The firm’s revenue for the quarter was down 86.4% compared to the same quarter last year. Equities research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.11 earnings per share for the current year.

Insider Activity

In related news, Director Hongbo Lu sold 2,970 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total value of $228,333.60. Following the completion of the transaction, the director directly owned 52,012 shares in the company, valued at approximately $3,998,682.56. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.60% of the company’s stock.

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.