17,795 Shares in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,795 shares of the biotechnology company’s stock, valued at approximately $345,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its holdings in Arrowhead Pharmaceuticals by 8.8% during the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after buying an additional 516,569 shares during the period. Squarepoint Ops LLC purchased a new position in Arrowhead Pharmaceuticals during the 2nd quarter valued at about $9,976,000. Avoro Capital Advisors LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 3.9% in the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after purchasing an additional 333,333 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Arrowhead Pharmaceuticals by 232.5% in the third quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after purchasing an additional 204,933 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 61.9% during the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after purchasing an additional 202,280 shares during the period. Institutional investors and hedge funds own 62.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citigroup dropped 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. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Sanford C. Bernstein cut their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Finally, HC Wainwright upped their target price on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $42.70.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock opened at $22.27 on Wednesday. The firm has a fifty day moving average price of $21.06 and a two-hundred day moving average price of $23.14. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $39.83. 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 company has a market cap of $2.77 billion, a PE ratio of -4.44 and a beta of 0.91.

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.