Algert Global LLC Has $716,000 Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Algert Global LLC cut its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 8.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,986 shares of the biotechnology company’s stock after selling 3,480 shares during the quarter. Algert Global LLC’s holdings in Arrowhead Pharmaceuticals were worth $716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $9,976,000. Avoro Capital Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 3.9% during the second 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 in the last quarter. Assenagon Asset Management S.A. increased its holdings in Arrowhead Pharmaceuticals by 232.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock valued at $5,677,000 after buying an additional 204,933 shares during the period. Millennium Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 61.9% in the 2nd 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 in the last quarter. Finally, abrdn plc raised its stake in shares of Arrowhead Pharmaceuticals by 61.3% in the 3rd quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock valued at $7,770,000 after buying an additional 152,476 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Trading Down 0.5 %

Shares of NASDAQ ARWR opened at $26.03 on Friday. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $17.05 and a 1-year high of $39.83. The company has a 50-day moving average of $20.05 and a two-hundred day moving average of $23.20. The company has a market cap of $3.24 billion, a PE ratio of -5.19 and a beta of 0.93. The company has a current ratio of 6.74, a quick ratio of 4.65 and a debt-to-equity ratio of 2.06.

Analyst Ratings Changes

ARWR has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, November 20th. Citigroup lowered their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research note on Wednesday. Finally, Chardan Capital restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $40.70.

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.