Silvercrest Asset Management Group LLC Has $4.30 Million Stock Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Silvercrest Asset Management Group LLC grew its stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 49.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 150,198 shares of the biotechnology company’s stock after buying an additional 49,972 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.12% of Arrowhead Pharmaceuticals worth $4,296,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ARWR. Norges Bank acquired a new position in Arrowhead Pharmaceuticals in the 4th quarter valued at approximately $40,451,000. Goldman Sachs Group Inc. lifted its position in Arrowhead Pharmaceuticals by 136.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock worth $32,496,000 after purchasing an additional 613,067 shares during the period. Eventide Asset Management LLC acquired a new stake in Arrowhead Pharmaceuticals during the fourth quarter worth $9,587,000. Vanguard Group Inc. increased its holdings in Arrowhead Pharmaceuticals by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock valued at $354,756,000 after buying an additional 1,731,974 shares during the period. Finally, Avoro Capital Advisors LLC increased its holdings in Arrowhead Pharmaceuticals by 100.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 1,130,000 shares of the biotechnology company’s stock valued at $34,578,000 after buying an additional 565,000 shares during the period. Institutional investors own 62.61% of the company’s stock.

Insider Activity

In other Arrowhead Pharmaceuticals news, Director Victoria Vakiener sold 1,799 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total transaction of $41,934.69. Following the completion of the sale, the director now directly owns 30,205 shares of the company’s stock, valued at approximately $704,078.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Victoria Vakiener sold 1,799 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $41,934.69. Following the transaction, the director now directly owns 30,205 shares in the company, valued at approximately $704,078.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tracie Oliver sold 9,394 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the transaction, the insider now directly owns 127,107 shares in the company, valued at approximately $3,213,264.96. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by insiders.

Arrowhead Pharmaceuticals Stock Performance

Shares of Arrowhead Pharmaceuticals stock traded up $0.01 during trading on Tuesday, reaching $28.67. The company’s stock had a trading volume of 325,342 shares, compared to its average volume of 1,271,595. The stock has a 50-day moving average price of $25.95 and a two-hundred day moving average price of $27.68. Arrowhead Pharmaceuticals, Inc. has a one year low of $20.67 and a one year high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 140.72%. Arrowhead Pharmaceuticals’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Chardan Capital reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Thursday, June 20th. The Goldman Sachs Group initiated coverage on Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They issued a “neutral” rating and a $31.00 target price for the company. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.25.

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.