Quarry LP Trims Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Quarry LP decreased its holdings in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 23.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,500 shares of the biotechnology company’s stock after selling 2,000 shares during the period. Quarry LP’s holdings in Arrowhead Pharmaceuticals were worth $126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ARWR. Fifth Third Bancorp lifted its position in Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 354 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals during the third quarter worth approximately $52,000. Meeder Asset Management Inc. raised its stake in shares of Arrowhead Pharmaceuticals by 4,629.2% during the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 3,333 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 788 shares during the period. Finally, nVerses Capital LLC purchased a new position in Arrowhead Pharmaceuticals in the 2nd quarter valued at $96,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Wall Street Analysts Forecast Growth

ARWR has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Piper Sandler cut their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. Finally, HC Wainwright raised their price target on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.70.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR opened at $23.61 on Friday. The business has a 50 day moving average price of $20.61 and a 200 day moving average price of $23.22. The company has a market capitalization of $2.94 billion, a P/E ratio of -4.70 and a beta of 0.91. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $17.05 and a 1-year high of $39.83. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74.

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.