Meeder Asset Management Inc. Acquires 3,333 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Meeder Asset Management Inc. raised its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 4,629.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,405 shares of the biotechnology company’s stock after acquiring an additional 3,333 shares during the period. Meeder Asset Management Inc.’s holdings in Arrowhead Pharmaceuticals were worth $88,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ARWR. Fifth Third Bancorp raised its holdings in shares of Arrowhead Pharmaceuticals by 42.5% during the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 354 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $41,000. Quest Partners LLC bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $45,000. Headlands Technologies LLC raised its stake in Arrowhead Pharmaceuticals by 7,696.8% during the 1st quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 2,386 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at $96,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Wall Street Analyst Weigh In

ARWR has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, September 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. B. Riley reissued a “buy” rating and issued a $55.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $44.25.

Arrowhead Pharmaceuticals Trading Up 6.2 %

Arrowhead Pharmaceuticals stock opened at $21.49 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $20.14 and a 12-month high of $39.83. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -5.06 and a beta of 0.96. The firm has a 50 day moving average of $25.25 and a 200 day moving average of $25.75.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. During the same quarter in the previous year, the firm earned ($0.96) earnings per share. The firm’s quarterly revenue was down 100.0% compared to the same quarter last year. On average, analysts predict that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tracie Oliver sold 9,394 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the transaction, the insider now owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.50% of the stock is currently owned by company insiders.

About Arrowhead Pharmaceuticals

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.