Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Purchased by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. grew its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 63.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,910 shares of the biotechnology company’s stock after purchasing an additional 9,318 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Arrowhead Pharmaceuticals were worth $463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 16.2% during the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after purchasing an additional 1,731,974 shares during the period. Avoro Capital Advisors LLC grew its stake in Arrowhead Pharmaceuticals by 3.9% during the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after buying an additional 333,333 shares during the last quarter. Bank of New York Mellon Corp increased its position in Arrowhead Pharmaceuticals by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after buying an additional 30,086 shares during the period. Millennium Management LLC lifted its stake in Arrowhead Pharmaceuticals by 61.9% in the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after buying an additional 202,280 shares during the last quarter. Finally, abrdn plc boosted its holdings in shares of Arrowhead Pharmaceuticals by 61.3% during the third quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock valued at $7,770,000 after acquiring an additional 152,476 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR opened at $19.71 on Thursday. The firm has a 50 day simple moving average of $20.85 and a 200 day simple moving average of $23.61. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $17.05 and a 52 week high of $39.83. The company has a market cap of $2.45 billion, a PE ratio of -4.64 and a beta of 0.95.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results 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). The company’s revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.96) earnings per share. On average, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on ARWR shares. Piper Sandler reaffirmed an “overweight” rating and issued a $62.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Thursday, October 17th. HC Wainwright reiterated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Friday, October 11th. Chardan Capital restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

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.