New York State Teachers Retirement System Sells 24,923 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

New York State Teachers Retirement System reduced its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 16.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,853 shares of the biotechnology company’s stock after selling 24,923 shares during the period. New York State Teachers Retirement System’s holdings in Arrowhead Pharmaceuticals were worth $7,828,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Tsfg LLC bought a new stake in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $25,000. iSAM Funds UK Ltd bought a new position in Arrowhead Pharmaceuticals in the 3rd quarter worth $29,000. First Horizon Corp bought a new position in Arrowhead Pharmaceuticals in the 4th quarter worth $32,000. WPG Advisers LLC raised its holdings in Arrowhead Pharmaceuticals by 384.8% in the 4th quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 431 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in Arrowhead Pharmaceuticals by 177.1% during the fourth quarter. Hantz Financial Services Inc. now owns 737 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 471 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ARWR shares. Leerink Partners boosted their price target on Arrowhead Pharmaceuticals from $61.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, June 17th. Sanford C. Bernstein raised their price objective on Arrowhead Pharmaceuticals from $35.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Wall Street Zen raised Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Chardan Capital reiterated a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, June 30th. Finally, Weiss Ratings lowered shares of Arrowhead Pharmaceuticals from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given 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 an average rating of “Moderate Buy” and a consensus target price of $87.27.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock traded down $2.10 during mid-day trading on Tuesday, hitting $84.45. The stock had a trading volume of 300,406 shares, compared to its average volume of 2,477,232. The firm has a market capitalization of $11.90 billion, a P/E ratio of -39.35 and a beta of 1.26. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 1.41. The firm’s 50 day moving average is $77.01 and its 200 day moving average is $68.94. Arrowhead Pharmaceuticals, Inc. has a one year low of $14.30 and a one year high of $87.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.17. The business had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 55.09% and a negative net margin of 48.38%.Arrowhead Pharmaceuticals’s revenue for the quarter was down 86.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.75 EPS. On average, sell-side analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year.

Insider Transactions at Arrowhead Pharmaceuticals

In related news, Director Hongbo Lu sold 2,970 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $76.88, for a total transaction of $228,333.60. Following the sale, the director owned 52,012 shares of the company’s stock, valued at approximately $3,998,682.56. This trade represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James C. Hamilton sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the transaction, the insider directly owned 226,958 shares in the company, valued at approximately $17,021,850. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 26,065 shares of company stock valued at $1,912,662 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Arrowhead Pharmaceuticals Profile

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.