10,894 Shares in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. purchased a new stake in shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,894 shares of the biotechnology company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC increased its position in shares of Arrowhead Pharmaceuticals by 11.5% in the 3rd quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company’s stock valued at $2,401,000 after acquiring an additional 12,706 shares during the period. Intech Investment Management LLC purchased a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at about $659,000. Erste Asset Management GmbH acquired a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at about $924,000. Millennium Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 61.9% in 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 last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Arrowhead Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after purchasing an additional 26,171 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Christopher Richard Anzalone sold 11,520 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total value of $219,456.00. Following the transaction, the chief executive officer now directly owns 3,764,252 shares of the company’s stock, valued at approximately $71,709,000.60. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William D. Waddill sold 3,748 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the sale, the director now owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,432 shares of company stock worth $2,957,986 in the last quarter. Corporate insiders own 4.50% of the company’s stock.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR stock opened at $20.03 on Wednesday. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $17.05 and a 12-month high of $36.72. The business’s 50 day moving average is $20.79 and its two-hundred day moving average is $21.87. The company has a market capitalization of $2.49 billion, a P/E ratio of -3.99 and a beta of 0.97.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, January 23rd. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Chardan Capital restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. Piper Sandler cut their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Citigroup decreased their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Hold” and a consensus target price of $43.33.

About Arrowhead Pharmaceuticals

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.