State of New Jersey Common Pension Fund D Sells 1,016 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

State of New Jersey Common Pension Fund D cut its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 80,307 shares of the biotechnology company’s stock after selling 1,016 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Arrowhead Pharmaceuticals were worth $1,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fifth Third Bancorp raised its stake in shares of Arrowhead Pharmaceuticals by 42.5% in the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 354 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 in the last quarter. Arizona State Retirement System lifted its position in shares of Arrowhead Pharmaceuticals by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock valued at $901,000 after buying an additional 821 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Arrowhead Pharmaceuticals by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 980 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in Arrowhead Pharmaceuticals by 3.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 34,663 shares of the biotechnology company’s stock worth $901,000 after buying an additional 1,250 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Stock Up 2.4 %

NASDAQ:ARWR opened at $19.02 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $17.05 and a 52 week high of $39.83. The stock’s fifty day moving average is $20.06 and its two-hundred day moving average is $23.39. The company has a market capitalization of $2.36 billion, a P/E ratio of -4.07 and a beta of 0.93.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. Piper Sandler restated an “overweight” rating and issued a $62.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Arrowhead Pharmaceuticals 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.