Victory Capital Management Inc. Sells 1,839 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Victory Capital Management Inc. decreased its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 4.5% in the 3rd quarter, Holdings Channel reports. The fund owned 39,251 shares of the biotechnology company’s stock after selling 1,839 shares during the quarter. Victory Capital Management Inc.’s holdings in Arrowhead Pharmaceuticals were worth $760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Privium Fund Management B.V. increased its holdings in Arrowhead Pharmaceuticals by 16.2% during the 3rd quarter. Privium Fund Management B.V. now owns 333,356 shares of the biotechnology company’s stock worth $6,457,000 after purchasing an additional 46,420 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Arrowhead Pharmaceuticals by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 23,910 shares of the biotechnology company’s stock worth $463,000 after buying an additional 9,318 shares during the period. abrdn plc grew its holdings in shares of Arrowhead Pharmaceuticals by 61.3% during the third quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock worth $7,770,000 after buying an additional 152,476 shares in the last quarter. State of Alaska Department of Revenue raised its position in Arrowhead Pharmaceuticals by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock valued at $279,000 after buying an additional 980 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Arrowhead Pharmaceuticals by 4.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 37,844 shares of the biotechnology company’s stock valued at $737,000 after acquiring an additional 1,609 shares in the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $26.15 on Friday. The stock has a 50-day simple moving average of $19.95 and a 200 day simple moving average of $23.18. The stock has a market capitalization of $3.25 billion, a P/E ratio of -5.60 and a beta of 0.93. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $17.05 and a 52 week high of $39.83.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ARWR. Piper Sandler decreased their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 20th. Citigroup cut their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Finally, B. Riley reiterated a “buy” rating and set a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.56.

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.