Amalgamated Bank Raises Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Amalgamated Bank raised its stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 3.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 56,722 shares of the biotechnology company’s stock after buying an additional 1,957 shares during the quarter. Amalgamated Bank’s holdings in Arrowhead Pharmaceuticals were worth $1,066,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after buying an additional 516,569 shares in the last quarter. Geode Capital Management LLC lifted its position in Arrowhead Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after acquiring an additional 26,171 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Arrowhead Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,006,935 shares of the biotechnology company’s stock valued at $19,504,000 after acquiring an additional 12,574 shares in the last quarter. abrdn plc grew its holdings in Arrowhead Pharmaceuticals by 12.2% in the fourth quarter. abrdn plc now owns 450,075 shares of the biotechnology company’s stock worth $8,461,000 after purchasing an additional 48,929 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Arrowhead Pharmaceuticals by 2.1% during the fourth quarter. Rhumbline Advisers now owns 380,344 shares of the biotechnology company’s stock worth $7,150,000 after purchasing an additional 7,912 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARWR. B. Riley reissued a “buy” rating and issued a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. Piper Sandler lowered their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Sanford C. Bernstein decreased their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.44.

Insiders Place Their Bets

In other news, Director Adeoye Y. Olukotun sold 2,850 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $20.00, for a total transaction of $57,000.00. Following the completion of the transaction, the director now directly owns 36,740 shares of the company’s stock, valued at $734,800. The trade was a 7.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Richard Anzalone sold 26,712 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.24, for a total transaction of $567,362.88. Following the sale, the chief executive officer now directly owns 3,688,335 shares in the company, valued at approximately $78,340,235.40. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,432 shares of company stock valued at $2,957,986. Company insiders own 4.30% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $17.71 on Tuesday. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 7.27. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $17.05 and a twelve month high of $36.72. The company’s 50 day moving average is $19.56 and its 200 day moving average is $20.67. The company has a market cap of $2.23 billion, a PE ratio of -3.43 and a beta of 0.95.

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

About Arrowhead Pharmaceuticals

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.