Ontario Teachers Pension Plan Board Has $323,000 Position in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

Ontario Teachers Pension Plan Board lessened its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) by 55.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,690 shares of the biotechnology company’s stock after selling 20,863 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Arrowhead Pharmaceuticals were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after buying an additional 1,731,974 shares during the last quarter. Avoro Capital Advisors LLC raised its holdings in 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 acquiring an additional 333,333 shares during the period. Bank of New York Mellon Corp lifted its position in Arrowhead Pharmaceuticals by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after acquiring an additional 30,086 shares during the last quarter. 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 acquiring an additional 202,280 shares during the period. Finally, abrdn plc grew its position in shares of Arrowhead Pharmaceuticals by 61.3% in the third quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock valued at $7,770,000 after purchasing an additional 152,476 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR opened at $18.54 on Friday. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $17.05 and a 1 year high of $39.83. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -3.97 and a beta of 0.93. The company’s 50 day simple moving average is $19.92 and its 200 day simple moving average is $23.28.

Analyst Upgrades and Downgrades

ARWR has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. B. Riley reissued a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. Piper Sandler restated an “overweight” rating and set a $62.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday, November 12th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.33.

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.