Ontario Teachers Pension Plan Board Has $323,000 Stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Ontario Teachers Pension Plan Board cut its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 55.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,690 shares of the biotechnology company’s stock after selling 20,863 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Arrowhead Pharmaceuticals were worth $323,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in Arrowhead Pharmaceuticals by 42.5% in the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 354 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at $52,000. Meeder Asset Management Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 3,333 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 788 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Arrowhead Pharmaceuticals in the second quarter valued at about $96,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Trading Up 1.4 %

Shares of ARWR opened at $18.54 on Friday. The firm’s fifty day simple moving average is $19.92 and its two-hundred day simple moving average is $23.28. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $17.05 and a 12 month high of $39.83. The stock has a market capitalization of $2.30 billion, a P/E ratio of -3.97 and a beta of 0.93.

Analyst Ratings Changes

Several research firms have recently weighed in on ARWR. Piper Sandler restated an “overweight” rating and set a $62.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, October 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. B. Riley reiterated a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

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.