Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,323 shares of the biotechnology company’s stock after selling 10,121 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of Arrowhead Pharmaceuticals worth $2,114,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in Arrowhead Pharmaceuticals by 42.5% during the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 354 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $41,000. Quest Partners LLC purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth $45,000. Headlands Technologies LLC increased its holdings in Arrowhead Pharmaceuticals by 7,696.8% in the 1st quarter. Headlands Technologies LLC now owns 2,417 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 2,386 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Arrowhead Pharmaceuticals in the second quarter valued at about $96,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ARWR. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. Chardan Capital restated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. The Goldman Sachs Group initiated coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Arrowhead Pharmaceuticals Trading Down 1.6 %

ARWR stock opened at $20.80 on Friday. The company has a market capitalization of $2.58 billion, a P/E ratio of -4.89 and a beta of 0.96. The firm has a 50 day simple moving average of $24.78 and a 200-day simple moving average of $25.44. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $19.44 and a twelve month high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate 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%. The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.96) EPS. On average, research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -4.31 EPS for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on 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 in the company, valued at approximately $3,213,264.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.50% of the stock is currently owned by 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.