King Luther Capital Management Corp Takes Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

King Luther Capital Management Corp bought a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the fourth quarter, HoldingsChannel.com reports. The firm bought 76,965 shares of the biotechnology company’s stock, valued at approximately $1,447,000.

A number of other institutional investors also recently modified their holdings of the business. Quest Partners LLC acquired a new position in Arrowhead Pharmaceuticals in the third quarter valued at about $494,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Arrowhead Pharmaceuticals in the third quarter valued at about $362,000. Intech Investment Management LLC acquired a new position in Arrowhead Pharmaceuticals in the third quarter valued at about $659,000. Charles Schwab Investment Management Inc. raised its stake in Arrowhead Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,006,935 shares of the biotechnology company’s stock valued at $19,504,000 after purchasing an additional 12,574 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Arrowhead Pharmaceuticals by 941.0% in the third quarter. Fisher Asset Management LLC now owns 122,260 shares of the biotechnology company’s stock valued at $2,368,000 after purchasing an additional 110,516 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

Insider Activity

In other news, CEO Christopher Richard Anzalone sold 133,333 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total transaction of $2,269,327.66. Following the completion of the transaction, the chief executive officer now directly owns 3,773,802 shares in the company, valued at $64,230,110.04. This trade represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adeoye Y. Olukotun sold 2,850 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $20.00, for a total value of $57,000.00. Following the transaction, the director now owns 36,740 shares of the company’s stock, valued at $734,800. This trade represents a 7.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,765 shares of company stock valued at $5,227,313. 4.30% of the stock is currently owned by corporate insiders.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $15.77 on Thursday. The business’s 50-day moving average price is $19.18 and its 200-day moving average price is $20.32. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $14.23 and a 12 month high of $30.41. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -3.05 and a beta of 0.92. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97). Equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ARWR shares. Piper Sandler dropped their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Sanford C. Bernstein dropped their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Citigroup decreased their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Finally, B. Riley reiterated a “buy” rating and issued a $38.00 target price (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $41.44.

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.