Sei Investments Co. Lowers Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Sei Investments Co. cut its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 50.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,790 shares of the biotechnology company’s stock after selling 14,194 shares during the quarter. Sei Investments Co.’s holdings in Arrowhead Pharmaceuticals were worth $1,142,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. The PNC Financial Services Group Inc. lifted its position in shares of Arrowhead Pharmaceuticals by 0.7% during the first quarter. The PNC Financial Services Group Inc. now owns 22,614 shares of the biotechnology company’s stock valued at $1,499,000 after buying an additional 156 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Arrowhead Pharmaceuticals by 0.8% during the first quarter. Stifel Financial Corp now owns 22,560 shares of the biotechnology company’s stock valued at $1,496,000 after buying an additional 177 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Arrowhead Pharmaceuticals by 5.0% during the first quarter. CIBC Asset Management Inc now owns 3,809 shares of the biotechnology company’s stock valued at $253,000 after buying an additional 181 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Arrowhead Pharmaceuticals by 0.8% during the first quarter. Arizona State Retirement System now owns 28,417 shares of the biotechnology company’s stock valued at $1,884,000 after buying an additional 235 shares during the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Arrowhead Pharmaceuticals by 6.5% during the second quarter. Fulton Bank N.A. now owns 4,076 shares of the biotechnology company’s stock valued at $337,000 after buying an additional 249 shares during the last quarter. 63.50% of the stock is owned by institutional investors and hedge funds.

Several analysts have commented on the stock. Piper Sandler decreased their price target on shares of Arrowhead Pharmaceuticals from $109.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, July 2nd. reissued a “buy” rating and set a $95.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Friday, July 2nd. TheStreet lowered shares of Arrowhead Pharmaceuticals from a “c-” rating to a “d+” rating in a research report on Wednesday, August 4th. SVB Leerink restated a “hold” rating on shares of Arrowhead Pharmaceuticals in a report on Sunday, June 27th. Finally, Chardan Capital cut their price objective on shares of Arrowhead Pharmaceuticals from $97.00 to $94.00 and set a “buy” rating on the stock in a report on Friday, August 6th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $87.33.

In other news, Director Adeoye Y. Olukotun sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $63.76, for a total transaction of $318,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.50% of the stock is owned by company insiders.

Shares of NASDAQ:ARWR opened at $62.40 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $41.26 and a twelve month high of $93.66. The company’s 50 day moving average is $64.67 and its 200 day moving average is $69.65. The company has a market cap of $6.51 billion, a PE ratio of -50.73 and a beta of 1.23.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its quarterly earnings results on Wednesday, August 4th. The biotechnology company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.21). The business had revenue of $45.89 million during the quarter, compared to analyst estimates of $50.20 million. Arrowhead Pharmaceuticals had a negative return on equity of 28.00% and a negative net margin of 116.97%. On average, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -0.79 EPS for the current year.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc operates as a biopharmaceutical company. It develops medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC. The company was founded by R.

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Institutional Ownership by Quarter for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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