Russell Investments Group Ltd. Purchases 23,538 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Russell Investments Group Ltd. lifted its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,817 shares of the biotechnology company’s stock after acquiring an additional 23,538 shares during the period. Russell Investments Group Ltd. owned approximately 0.23% of Arrowhead Pharmaceuticals worth $7,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARWR. Washington Trust Advisors Inc. bought a new stake in Arrowhead Pharmaceuticals in the fourth quarter worth approximately $25,000. Fifth Third Bancorp increased its stake in shares of Arrowhead Pharmaceuticals by 112.0% in the 3rd quarter. Fifth Third Bancorp now owns 988 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 522 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter valued at $51,000. China Universal Asset Management Co. Ltd. boosted its stake in Arrowhead Pharmaceuticals by 96.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,753 shares of the biotechnology company’s stock worth $74,000 after acquiring an additional 1,352 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Arrowhead Pharmaceuticals by 130.1% in the third quarter. Nisa Investment Advisors LLC now owns 5,270 shares of the biotechnology company’s stock worth $142,000 after purchasing an additional 2,980 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $25.00 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $20.67 and a fifty-two week high of $41.36. The firm has a market capitalization of $3.10 billion, a P/E ratio of -8.99 and a beta of 0.78. The company’s 50-day moving average is $27.10 and its 200 day moving average is $28.74.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.46). The business had revenue of $3.55 million during the quarter, compared to analysts’ expectations of $35.60 million. Arrowhead Pharmaceuticals had a negative return on equity of 90.77% and a negative net margin of 163.32%. Arrowhead Pharmaceuticals’s quarterly revenue was down 94.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.39) EPS. On average, equities research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.7 earnings per share for the current year.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, Director Hongbo Lu bought 1,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was purchased at an average cost of $27.49 per share, with a total value of $27,490.00. Following the transaction, the director now directly owns 31,680 shares in the company, valued at approximately $870,883.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Hongbo Lu purchased 1,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was bought at an average price of $27.49 per share, for a total transaction of $27,490.00. Following the purchase, the director now directly owns 31,680 shares in the company, valued at approximately $870,883.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kenneth Allen Myszkowski sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $35.19, for a total value of $1,407,600.00. Following the completion of the transaction, the chief financial officer now owns 400,600 shares in the company, valued at approximately $14,097,114. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ARWR shares. Morgan Stanley increased their price objective on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, February 8th. Citigroup increased their target price on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $50.80.

Arrowhead Pharmaceuticals Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.