MetLife Investment Management LLC Sells 69,048 Shares of Arrowhead Pharmaceuticals, Inc. $ARWR

MetLife Investment Management LLC decreased its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 49.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,963 shares of the biotechnology company’s stock after selling 69,048 shares during the quarter. MetLife Investment Management LLC’s holdings in Arrowhead Pharmaceuticals were worth $917,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Oak Ridge Investments LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 2.5% in the 1st quarter. Oak Ridge Investments LLC now owns 33,734 shares of the biotechnology company’s stock valued at $430,000 after purchasing an additional 823 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Arrowhead Pharmaceuticals by 9.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,476 shares of the biotechnology company’s stock valued at $184,000 after purchasing an additional 1,195 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 297.6% in the 1st quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,628 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Arrowhead Pharmaceuticals by 13.5% in the 4th quarter. Captrust Financial Advisors now owns 17,074 shares of the biotechnology company’s stock valued at $321,000 after purchasing an additional 2,035 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Arrowhead Pharmaceuticals by 40.8% in the 1st quarter. KBC Group NV now owns 7,356 shares of the biotechnology company’s stock valued at $94,000 after purchasing an additional 2,132 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Stock Up 3.9%

Arrowhead Pharmaceuticals stock opened at $29.08 on Friday. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -22.72 and a beta of 1.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.87 and a quick ratio of 4.87. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $29.34. The firm has a fifty day moving average price of $18.78 and a two-hundred day moving average price of $16.26.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.32). The business had revenue of $27.77 million for the quarter, compared to analysts’ expectations of $29.01 million. During the same period last year, the company posted ($1.38) earnings per share. As a group, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, insider James C. Hamilton sold 15,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $25.00, for a total value of $375,000.00. Following the completion of the sale, the insider owned 247,122 shares in the company, valued at approximately $6,178,050. This trade represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 25,000 shares of company stock valued at $575,000 in the last three months. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ARWR has been the subject of several analyst reports. TD Cowen raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research note on Monday, July 28th. Citigroup reduced their price objective on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Royal Bank Of Canada reduced their price objective on shares of Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. Finally, B. Riley raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a research report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Buy” and an average target price of $43.14.

Arrowhead Pharmaceuticals Company 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.