PDT Partners LLC Invests $315,000 in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)

PDT Partners LLC acquired a new stake in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,241 shares of the biotechnology company’s stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARWR. Squarepoint Ops LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the second quarter valued at $9,976,000. Avoro Capital Advisors LLC grew its position in shares of Arrowhead Pharmaceuticals by 3.9% in the second 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. grew 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 valued at $5,677,000 after purchasing an additional 204,933 shares during the period. Millennium Management LLC grew its position 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 valued at $13,755,000 after purchasing 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 period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $26.07 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $17.05 and a 1-year high of $39.83. The business has a 50-day moving average of $20.28 and a 200-day moving average of $23.23. 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 capitalization of $3.24 billion, a price-to-earnings ratio of -5.19 and a beta of 0.91.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ARWR shares. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Wednesday, November 27th. Sanford C. Bernstein lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Citigroup lowered their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

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.