Creative Planning Decreases Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Creative Planning cut its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 10.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 25,409 shares of the biotechnology company’s stock after selling 2,867 shares during the quarter. Creative Planning’s holdings in Arrowhead Pharmaceuticals were worth $492,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its stake in Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 354 shares in the last quarter. Headlands Technologies LLC raised 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 acquiring an additional 2,386 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Arrowhead Pharmaceuticals by 4,629.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 3,333 shares during the last quarter. nVerses Capital LLC acquired a new stake in Arrowhead Pharmaceuticals in the 2nd quarter valued at about $96,000. Finally, Quarry LP raised its holdings in Arrowhead Pharmaceuticals by 54.5% in the 2nd quarter. Quarry LP now owns 8,500 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 3,000 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ:ARWR opened at $21.34 on Thursday. The stock has a market capitalization of $2.65 billion, a P/E ratio of -4.57 and a beta of 0.93. The company has a 50 day moving average price of $20.43 and a 200 day moving average price of $23.51. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share 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 period in the previous year, the firm earned ($0.96) EPS. Research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on ARWR. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. HC Wainwright restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Friday, October 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Finally, Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Arrowhead Pharmaceuticals 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.