Envestnet Asset Management Inc. Increases Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Envestnet Asset Management Inc. lifted its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,627 shares of the biotechnology company’s stock after acquiring an additional 1,632 shares during the period. Envestnet Asset Management Inc.’s holdings in Arrowhead Pharmaceuticals were worth $3,365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ARWR. Point72 Hong Kong Ltd boosted its stake in shares of Arrowhead Pharmaceuticals by 108.2% during the first quarter. Point72 Hong Kong Ltd now owns 683 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 355 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 36.8% during the second quarter. Sound Income Strategies LLC now owns 930 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 250 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Arrowhead Pharmaceuticals during the first quarter valued at $126,000. Silvant Capital Management LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the first quarter valued at $198,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the second quarter valued at $219,000. 63.50% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Douglas B. Given sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 22nd. The stock was sold at an average price of $89.21, for a total transaction of $401,445.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Backer Marianne De sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 24th. The shares were sold at an average price of $89.85, for a total value of $449,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,125 shares of company stock worth $1,492,918 over the last 90 days. 3.50% of the stock is owned by company insiders.

A number of analysts recently commented on ARWR shares. HC Wainwright increased their price objective on Arrowhead Pharmaceuticals from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, August 10th. Piper Sandler decreased their price target on Arrowhead Pharmaceuticals from $109.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, July 2nd. SVB Leerink reissued a “hold” rating on shares of Arrowhead Pharmaceuticals in a research note on Sunday, June 27th. TheStreet lowered Arrowhead Pharmaceuticals from a “c-” rating to a “d+” rating in a research note on Wednesday, August 4th. Finally, restated a “buy” rating and issued a $95.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Friday, July 2nd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $87.33.

Shares of NASDAQ:ARWR opened at $62.52 on Wednesday. The company has a market cap of $6.52 billion, a P/E ratio of -50.83 and a beta of 1.23. Arrowhead Pharmaceuticals, Inc. has a one year low of $33.61 and a one year high of $93.66. The business’s 50-day simple moving average is $64.82 and its 200 day simple moving average is $70.04.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings data on Wednesday, August 4th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.21). Arrowhead Pharmaceuticals had a negative return on equity of 28.00% and a negative net margin of 116.97%. Equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -0.79 EPS for the current year.

Arrowhead Pharmaceuticals Profile

Arrowhead Pharmaceuticals, Inc operates as a biopharmaceutical company. It develops medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC. The company was founded by R.

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

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