Principal Financial Group Inc. Sells 64,593 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

Principal Financial Group Inc. reduced its position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 715,539 shares of the biotechnology company’s stock after selling 64,593 shares during the quarter. Principal Financial Group Inc.’s holdings in Arrowhead Pharmaceuticals were worth $47,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. CWM LLC increased its position in Arrowhead Pharmaceuticals by 1.4% in the fourth quarter. CWM LLC now owns 12,347 shares of the biotechnology company’s stock worth $820,000 after buying an additional 168 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Arrowhead Pharmaceuticals by 3.1% in the third quarter. PNC Financial Services Group Inc. now owns 10,924 shares of the biotechnology company’s stock worth $377,000 after buying an additional 326 shares during the last quarter. WPG Advisers LLC increased its position in Arrowhead Pharmaceuticals by 384.8% in the fourth quarter. WPG Advisers LLC now owns 543 shares of the biotechnology company’s stock worth $36,000 after buying an additional 431 shares during the last quarter. First Horizon Corp purchased a new stake in Arrowhead Pharmaceuticals in the fourth quarter worth $32,000. Finally, State of Wyoming increased its position in Arrowhead Pharmaceuticals by 5.6% in the third quarter. State of Wyoming now owns 9,519 shares of the biotechnology company’s stock worth $328,000 after buying an additional 504 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 10,000 shares of Arrowhead Pharmaceuticals stock in a transaction 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. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of Arrowhead Pharmaceuticals stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total value of $934,328.25. Following the completion of the transaction, the chief financial officer owned 162,905 shares of the company’s stock, valued at approximately $11,623,271.75. This trade represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 33,095 shares of company stock valued at $2,326,228. 3.60% of the stock is owned by company insiders.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $72.70 on Friday. The stock has a market cap of $10.18 billion, a PE ratio of -33.81 and a beta of 1.28. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $12.89 and a fifty-two week high of $79.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.38 and a current ratio of 3.38. The stock has a fifty day moving average of $64.30 and a 200-day moving average of $60.36.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.93) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.17. The company had revenue of $73.74 million during the quarter, compared to analysts’ expectations of $73.84 million. Arrowhead Pharmaceuticals had a negative return on equity of 56.92% and a negative net margin of 48.38%.The firm’s quarterly revenue was down 86.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.75 earnings per share. Equities research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. B. Riley Financial raised their target price on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, March 25th. Finally, Royal Bank Of Canada raised their target price on Arrowhead Pharmaceuticals from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.90.

About Arrowhead Pharmaceuticals

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.