Seven Eight Capital LP Acquires 64,358 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Seven Eight Capital LP grew its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 592.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,224 shares of the biotechnology company’s stock after purchasing an additional 64,358 shares during the quarter. Seven Eight Capital LP owned approximately 0.06% of Arrowhead Pharmaceuticals worth $2,151,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth approximately $40,451,000. Goldman Sachs Group Inc. grew its position in shares of Arrowhead Pharmaceuticals by 136.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after buying an additional 613,067 shares during the last quarter. Eventide Asset Management LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth approximately $9,587,000. Avoro Capital Advisors LLC grew its position in shares of Arrowhead Pharmaceuticals by 100.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 1,130,000 shares of the biotechnology company’s stock worth $34,578,000 after buying an additional 565,000 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the 1st quarter worth approximately $3,663,000. Institutional investors own 62.61% of the company’s stock.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the transaction, the insider now owns 127,107 shares in the company, valued at $3,213,264.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Victoria Vakiener sold 1,799 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total value of $41,934.69. Following the completion of the transaction, the director now owns 30,205 shares in the company, valued at $704,078.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tracie Oliver sold 9,394 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total transaction of $237,480.32. Following the completion of the transaction, the insider now owns 127,107 shares of the company’s stock, valued at approximately $3,213,264.96. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 0.1 %

Arrowhead Pharmaceuticals stock traded up $0.03 during midday trading on Tuesday, hitting $28.78. 656,535 shares of the stock were exchanged, compared to its average volume of 1,288,665. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $20.67 and a fifty-two week high of $39.83. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -6.77 and a beta of 0.94. The stock’s 50-day simple moving average is $25.65 and its 200 day simple moving average is $27.96.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 140.72%. During the same quarter last year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. Equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARWR. Morgan Stanley cut their price objective on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. The Goldman Sachs Group began coverage on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, June 20th. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.25.

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.