King Luther Capital Management Corp Makes New Investment in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

King Luther Capital Management Corp bought a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 76,965 shares of the biotechnology company’s stock, valued at approximately $1,447,000. King Luther Capital Management Corp owned approximately 0.06% of Arrowhead Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARWR. Edgestream Partners L.P. acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $2,264,000. Raymond James Financial Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $651,000. Pinion Investment Advisors LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $1,410,000. Charles Schwab Investment Management Inc. raised its stake in shares of Arrowhead Pharmaceuticals by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company’s stock valued at $19,133,000 after purchasing an additional 10,785 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 16.9% in the 4th quarter. Fisher Asset Management LLC now owns 142,939 shares of the biotechnology company’s stock valued at $2,687,000 after purchasing an additional 20,679 shares during the period. 62.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ARWR has been the topic of several recent research reports. Chardan Capital reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Piper Sandler decreased their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $41.44.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, Director William D. Waddill sold 3,748 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, December 16th. The stock was sold at an average price of $21.90, for a total transaction of $82,081.20. Following the completion of the sale, the director now owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adeoye Y. Olukotun sold 2,850 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $20.00, for a total transaction of $57,000.00. Following the completion of the sale, the director now directly owns 36,740 shares of the company’s stock, valued at approximately $734,800. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 280,765 shares of company stock worth $5,227,313 over the last quarter. Company insiders own 4.30% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 4.7 %

Shares of NASDAQ:ARWR opened at $15.77 on Thursday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $14.23 and a 52-week high of $30.41. The company has a market capitalization of $1.99 billion, a P/E ratio of -3.05 and a beta of 0.92. The company has a 50-day simple moving average of $19.18 and a 200 day simple moving average of $20.32. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.97). Sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

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.