Neuberger Berman Group LLC Reduces Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Posted by Defense World Staff on Jun 9th, 2023

Neuberger Berman Group LLC lessened its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Get Rating) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,043 shares of the biotechnology company’s stock after selling 51,444 shares during the period. Neuberger Berman Group LLC owned about 0.19% of Arrowhead Pharmaceuticals worth $8,398,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ARWR. State Street Corp increased its position in shares of Arrowhead Pharmaceuticals by 19.2% during the second quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company’s stock worth $196,568,000 after purchasing an additional 900,791 shares in the last quarter. Western Financial Corp CA acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth about $33,272,000. Renaissance Technologies LLC acquired a new stake in shares of Arrowhead Pharmaceuticals in the first quarter worth approximately $17,490,000. Point72 Asset Management L.P. raised its stake in Arrowhead Pharmaceuticals by 68.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 666,600 shares of the biotechnology company’s stock valued at $22,031,000 after purchasing an additional 270,732 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in Arrowhead Pharmaceuticals by 356.3% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 270,054 shares of the biotechnology company’s stock worth $12,419,000 after purchasing an additional 210,867 shares during the last quarter. 65.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Sumitomo Mitsui Financial Group assumed coverage on Arrowhead Pharmaceuticals in a research note on Wednesday, April 26th. They issued an “outperform” rating and a $80.00 target price for the company. 500.com restated a “reiterates” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, May 3rd. StockNews.com started coverage on shares of Arrowhead Pharmaceuticals in a report on Thursday, May 18th. They issued a “hold” rating for the company. Piper Sandler raised their price target on Arrowhead Pharmaceuticals from $52.00 to $59.00 in a research report on Friday, June 2nd. Finally, Sanford C. Bernstein started coverage on Arrowhead Pharmaceuticals in a report on Tuesday, March 21st. They issued a “market perform” rating and a $27.00 price objective on the stock. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.08.

Insider Transactions at Arrowhead Pharmaceuticals

In other news, CEO Christopher Richard Anzalone sold 54,928 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $39.14, for a total value of $2,149,881.92. Following the transaction, the chief executive officer now owns 3,761,338 shares of the company’s stock, valued at approximately $147,218,769.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Christopher Richard Anzalone sold 54,928 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $39.14, for a total value of $2,149,881.92. Following the transaction, the chief executive officer now directly owns 3,761,338 shares of the company’s stock, valued at $147,218,769.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas B. Given sold 6,500 shares of Arrowhead Pharmaceuticals stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $40.90, for a total transaction of $265,850.00. Following the completion of the sale, the director now owns 117,635 shares of the company’s stock, valued at approximately $4,811,271.50. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $35.70 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $23.09 and a 12-month high of $48.48. The firm has a fifty day moving average of $33.77 and a two-hundred day moving average of $32.78.

Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $1.10. Arrowhead Pharmaceuticals had a negative net margin of 53.83% and a negative return on equity of 33.49%. The business had revenue of $146.27 million during the quarter, compared to the consensus estimate of $45.48 million. During the same period in the prior year, the firm earned $0.41 EPS. Arrowhead Pharmaceuticals’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Arrowhead Pharmaceuticals, Inc. will post -1.37 EPS for the current year.

About Arrowhead Pharmaceuticals

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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.