Nordea Investment Management AB Decreases Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Posted by Defense World Staff on May 11th, 2023

Nordea Investment Management AB trimmed its position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Get Rating) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 125,764 shares of the biotechnology company’s stock after selling 7,077 shares during the quarter. Nordea Investment Management AB owned approximately 0.12% of Arrowhead Pharmaceuticals worth $5,029,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its position in Arrowhead Pharmaceuticals by 94.6% during the first quarter. Advisors Asset Management Inc. now owns 720 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth about $27,000. Wipfli Financial Advisors LLC purchased a new stake in Arrowhead Pharmaceuticals in the third quarter valued at approximately $39,000. Captrust Financial Advisors increased its position in Arrowhead Pharmaceuticals by 22.4% during the second quarter. Captrust Financial Advisors now owns 1,201 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 220 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new stake in Arrowhead Pharmaceuticals during the third quarter worth about $52,000. 65.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com began coverage on Arrowhead Pharmaceuticals in a report on Thursday, March 16th. They issued a “hold” rating for the company. SVB Securities raised Arrowhead Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $21.00 to $35.00 in a research note on Wednesday, April 12th. Sanford C. Bernstein initiated coverage on Arrowhead Pharmaceuticals in a research note on Tuesday, March 21st. They issued a “market perform” rating and a $27.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 10th. Finally, Robert W. Baird lowered their price objective on Arrowhead Pharmaceuticals from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.15.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 11,350 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $32.65, for a total value of $370,577.50. Following the sale, the director now owns 7,867 shares in the company, valued at approximately $256,857.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Adeoye Y. Olukotun sold 11,350 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $32.65, for a total transaction of $370,577.50. Following the transaction, the director now directly owns 7,867 shares of the company’s stock, valued at $256,857.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas B. Given sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $40.90, for a total transaction of $265,850.00. Following the transaction, the director now directly owns 117,635 shares in the company, valued at $4,811,271.50. The disclosure for this sale can be found here. Insiders sold a total of 73,653 shares of company stock worth $2,814,852 over the last quarter. 5.00% of the stock is currently owned by insiders.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $40.49 on Thursday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -28.31 and a beta of 1.03. The stock’s 50-day moving average is $29.75 and its 200-day moving average is $32.37. Arrowhead Pharmaceuticals, Inc. has a one year low of $23.09 and a one year high of $48.48.

Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.65) by $1.10. The business had revenue of $146.27 million for the quarter, compared to analyst estimates of $45.48 million. Arrowhead Pharmaceuticals had a negative net margin of 53.83% and a negative return on equity of 33.49%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, equities analysts expect that Arrowhead Pharmaceuticals, Inc. will post -1.8 EPS for the current year.

Arrowhead Pharmaceuticals Profile

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Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the development of 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.