10,894 Shares in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. bought a new position in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the fourth quarter, Holdings Channel reports. The fund bought 10,894 shares of the biotechnology company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ARWR. Dimensional Fund Advisors LP raised its position in shares of Arrowhead Pharmaceuticals by 139.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 145,874 shares of the biotechnology company’s stock valued at $3,791,000 after buying an additional 84,867 shares during the period. Bank of Montreal Can raised its position in Arrowhead Pharmaceuticals by 240.5% in the second quarter. Bank of Montreal Can now owns 43,699 shares of the biotechnology company’s stock valued at $1,202,000 after purchasing an additional 30,866 shares during the period. Millennium Management LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 61.9% in the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after purchasing an additional 202,280 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Arrowhead Pharmaceuticals by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 149,156 shares of the biotechnology company’s stock worth $3,877,000 after purchasing an additional 1,677 shares during the period. Finally, Algert Global LLC increased its position in shares of Arrowhead Pharmaceuticals by 104.3% during the 2nd quarter. Algert Global LLC now owns 40,466 shares of the biotechnology company’s stock worth $1,052,000 after purchasing an additional 20,656 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ARWR shares. Sanford C. Bernstein decreased their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Piper Sandler lowered their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Citigroup cut their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, January 23rd. 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 stock. According to MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $20.03 on Wednesday. The business’s 50-day moving average is $20.79 and its two-hundred day moving average is $21.87. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The firm has a market capitalization of $2.49 billion, a P/E ratio of -3.99 and a beta of 0.97. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $17.05 and a 1 year high of $36.72.

Insider Buying and Selling

In other news, insider James C. Hamilton sold 32,729 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $648,688.78. Following the completion of the transaction, the insider now owns 272,122 shares in the company, valued at approximately $5,393,458.04. This represents a 10.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kenneth Allen Myszkowski sold 27,167 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.83, for a total transaction of $538,721.61. Following the completion of the transaction, the chief financial officer now owns 473,433 shares of the company’s stock, valued at $9,388,176.39. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,432 shares of company stock worth $2,957,986. Company insiders own 4.50% of the company’s stock.

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.