Resona Asset Management Co. Ltd. Acquires Shares of 22,292 Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Resona Asset Management Co. Ltd. bought a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,292 shares of the biotechnology company’s stock, valued at approximately $420,000.

Several other institutional investors and hedge funds have also made changes to their positions in ARWR. Headlands Technologies LLC lifted its holdings in Arrowhead Pharmaceuticals by 15.3% in the 4th quarter. Headlands Technologies LLC now owns 20,749 shares of the biotechnology company’s stock worth $390,000 after buying an additional 2,750 shares in the last quarter. Norges Bank acquired a new position in shares of Arrowhead Pharmaceuticals in the fourth quarter worth about $38,622,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Arrowhead Pharmaceuticals by 23.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,281 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 2,556 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at approximately $233,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth approximately $434,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Christopher Richard Anzalone sold 133,333 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $17.02, for a total value of $2,269,327.66. Following the completion of the transaction, the chief executive officer now owns 3,773,802 shares in the company, valued at $64,230,110.04. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 276,839 shares of company stock worth $4,054,176. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Finally, B. Riley reiterated a “buy” rating and issued a $38.00 target price (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.44.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $11.79 on Friday. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09. The firm has a market capitalization of $1.62 billion, a PE ratio of -2.28 and a beta of 0.99. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $30.41. The business’s fifty day moving average price is $16.07 and its two-hundred day moving average price is $18.86.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.97). On average, research analysts expect that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

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.