CenterBook Partners LP Buys 68,001 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

CenterBook Partners LP increased its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 344.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 87,729 shares of the biotechnology company’s stock after purchasing an additional 68,001 shares during the period. CenterBook Partners LP’s holdings in Arrowhead Pharmaceuticals were worth $5,742,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Arrowhead Pharmaceuticals during the 2nd quarter valued at about $1,208,838,000. Siren L.L.C. boosted its position in shares of Arrowhead Pharmaceuticals by 7.7% in the first quarter. Siren L.L.C. now owns 1,615,476 shares of the biotechnology company’s stock valued at $101,290,000 after acquiring an additional 115,000 shares during the period. Jupiter Topco LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter valued at approximately $99,623,000. Janus Henderson Group PLC grew its stake in Arrowhead Pharmaceuticals by 12.2% during the first quarter. Janus Henderson Group PLC now owns 1,436,990 shares of the biotechnology company’s stock valued at $90,119,000 after acquiring an additional 156,544 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Arrowhead Pharmaceuticals during the 2nd quarter worth approximately $70,061,000. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR traded up $0.70 during midday trading on Friday, hitting $58.16. 1,363,195 shares of the company’s stock were exchanged, compared to its average volume of 1,708,830. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. The business’s fifty day moving average price is $66.91 and its two-hundred day moving average price is $71.48. The company has a market cap of $8.19 billion, a price-to-earnings ratio of -25.85 and a beta of 1.34. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $37.06 and a 12-month high of $95.49.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Tuesday, August 4th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.13). The company had revenue of $75.25 million during the quarter, compared to analysts’ expectations of $44.17 million. Arrowhead Pharmaceuticals had a negative net margin of 47.79% and a negative return on equity of 60.06%. The company’s revenue for the quarter was up 171.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.26) earnings per share. As a group, research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.62 EPS for the current fiscal year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, Director Adeoye Olukotun sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total transaction of $173,920.00. Following the sale, the director owned 31,600 shares in the company, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Perry sold 11,600 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the sale, the director directly owned 111,459 shares of the company’s stock, valued at $9,730,370.70. This represents a 9.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

ARWR has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 31st. B. Riley Financial boosted their price target on shares of Arrowhead Pharmaceuticals from $101.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Morgan Stanley upped their price target on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a research report on Thursday, September 24th. They issued a “neutral” rating and a $74.00 price objective on the stock. Finally, Chardan Capital reissued a “buy” rating and set a $115.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.07.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company focused on developing medicines that silence disease-causing genes using RNA interference (RNAi). The company’s proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi-based therapies to specific tissues and reduce the production of targeted proteins.

Arrowhead’s research and development programs address a range of conditions, including cardiometabolic, pulmonary, liver, and central nervous system diseases.