Principal Financial Group Inc. Cuts Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Principal Financial Group Inc. lowered its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 31.5% in the third quarter, Holdings Channel reports. The firm owned 290,994 shares of the biotechnology company’s stock after selling 133,772 shares during the period. Principal Financial Group Inc.’s holdings in Arrowhead Pharmaceuticals were worth $5,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in Arrowhead Pharmaceuticals by 9.4% during the third quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company’s stock worth $373,000 after buying an additional 1,658 shares during the period. World Investment Advisors LLC raised its stake in shares of Arrowhead Pharmaceuticals by 3.8% in the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after acquiring an additional 700 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after acquiring an additional 26,171 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Arrowhead Pharmaceuticals during the 3rd quarter worth $345,000. Finally, Wellington Management Group LLP increased its holdings in Arrowhead Pharmaceuticals by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after purchasing an additional 886 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $18.80 on Thursday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $17.05 and a 1-year high of $39.83. The company has a 50-day moving average of $21.07 and a 200-day moving average of $22.71. The company has a market capitalization of $2.34 billion, a P/E ratio of -3.75 and a beta of 0.91.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director Adeoye Y. Olukotun sold 2,850 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, December 27th. The shares were sold at an average price of $20.00, for a total value of $57,000.00. Following the completion of the transaction, the director now owns 36,740 shares of the company’s stock, valued at $734,800. The trade was a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Christopher Richard Anzalone sold 26,712 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $21.24, for a total transaction of $567,362.88. Following the sale, the chief executive officer now owns 3,688,335 shares of the company’s stock, valued at approximately $78,340,235.40. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,873 shares of company stock valued at $952,553 over the last three months. 4.50% of the stock is owned by insiders.

Analysts Set New Price Targets

ARWR has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Sanford C. Bernstein decreased their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, November 29th. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Friday, December 20th. Piper Sandler decreased their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

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.