Corebridge Financial Inc. Sells 10,761 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Corebridge Financial Inc. lessened its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRFree Report) by 5.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 199,154 shares of the biotechnology company’s stock after selling 10,761 shares during the period. Corebridge Financial Inc.’s holdings in Arrowhead Pharmaceuticals were worth $3,744,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ARWR. State Street Corp raised its position in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after acquiring an additional 516,569 shares in the last quarter. Geode Capital Management LLC increased its holdings in Arrowhead Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after purchasing an additional 26,171 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Arrowhead Pharmaceuticals by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,017,720 shares of the biotechnology company’s stock valued at $19,133,000 after buying an additional 10,785 shares during the period. abrdn plc boosted its holdings in shares of Arrowhead Pharmaceuticals by 12.2% during the 4th quarter. abrdn plc now owns 450,075 shares of the biotechnology company’s stock worth $8,461,000 after buying an additional 48,929 shares in the last quarter. Finally, Privium Fund Management B.V. boosted its holdings in shares of Arrowhead Pharmaceuticals by 14.2% during the 4th quarter. Privium Fund Management B.V. now owns 380,586 shares of the biotechnology company’s stock worth $7,155,000 after buying an additional 47,230 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 11,520 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $19.05, for a total value of $219,456.00. Following the completion of the transaction, the chief executive officer now owns 3,764,252 shares in the company, valued at $71,709,000.60. This represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick O’brien sold 29,184 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, January 6th. The stock was sold at an average price of $19.82, for a total value of $578,426.88. Following the sale, the chief operating officer now owns 535,201 shares in the company, valued at $10,607,683.82. The trade was a 5.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 286,317 shares of company stock valued at $5,049,735. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Finally, B. Riley reissued a “buy” rating and issued a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.44.

Get Our Latest Stock Analysis on ARWR

Arrowhead Pharmaceuticals Stock Up 0.1 %

Shares of NASDAQ:ARWR opened at $13.82 on Monday. The business’s 50 day moving average is $18.13 and its 200 day moving average is $19.60. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $13.66 and a 12-month high of $30.41. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -2.67 and a beta of 0.92. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Free Report) last posted 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). On average, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current fiscal year.

Arrowhead Pharmaceuticals Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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