Van ECK Associates Corp Sells 1,250 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Van ECK Associates Corp lowered its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 42.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,728 shares of the biotechnology company’s stock after selling 1,250 shares during the quarter. Van ECK Associates Corp’s holdings in Arrowhead Pharmaceuticals were worth $34,000 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. Vanguard Group Inc. lifted its stake 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 valued at $354,756,000 after acquiring an additional 1,731,974 shares during the period. Avoro Capital Advisors LLC lifted its holdings in Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after buying an additional 333,333 shares during the period. American International Group Inc. grew its holdings in Arrowhead Pharmaceuticals by 13.4% during the 1st quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock worth $6,298,000 after acquiring an additional 26,009 shares during the period. Seven Eight Capital LP lifted its stake in shares of Arrowhead Pharmaceuticals by 592.3% in the 1st quarter. Seven Eight Capital LP now owns 75,224 shares of the biotechnology company’s stock valued at $2,151,000 after purchasing an additional 64,358 shares during the period. Finally, Swiss National Bank boosted its position in shares of Arrowhead Pharmaceuticals by 21.2% in the 1st quarter. Swiss National Bank now owns 243,300 shares of the biotechnology company’s stock worth $6,958,000 after purchasing an additional 42,600 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. B. Riley reissued a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. Piper Sandler reiterated an “overweight” rating and issued a $62.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Friday, October 11th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.33.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $21.41 on Friday. The business has a 50-day moving average of $20.19 and a 200-day moving average of $23.45. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $39.83. The stock has a market capitalization of $2.66 billion, a P/E ratio of -4.58 and a beta of 0.93.

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.