Stonnington Group LLC, a well-known institutional investor, has recently made an acquisition in the biotechnology arena by acquiring 8,600 shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) during the first quarter of 2023. This latest move was recorded through a recent filing with the Securities and Exchange Commission (SEC), where the company reported $262,000 worth of stakes.
Arrowhead Pharmaceuticals is known for developing innovative therapeutic solutions to address challenging diseases in the US market. Its pharmaceutical products pipeline includes several key candidates that are undergoing clinical trials at different stages. These candidates include ARO-AAT, ARO-APOC3, ARO-ANG3, ARO-HSD, ARO-ENaC2, ARO-C3, ARO-DUX4 and many others.
Many equities research analysts have opined on this acquisition. 500.com reiterated their “reiterates” rating on Arrowhead Pharmaceuticals in May 2023 while StockNews.com recently provided coverage stating that they would hold onto their shares for now. Others such as SVB Securities and SVB Leerink downgraded Arrowhead Pharmaceuticals from an “outperform” rating to “market perform”, with Sanford C. Bernstein providing a market perform rating and giving a $27 target price on ARWR shares.
Despite being rated as “Moderate Buy” overall by data analytics company Bloomberg and having a consensus target price of $58.08 per share, Arrowhead Pharmaceuticals has been under consistent scanner for performance evaluation under strict scrutinies.
Summing up Stonnington Group’s latest stake purchase in Arrowhead Pharmaceuticals could be tagged as a strategic move geared towards influencing investors’ confidence levels positively which hopefully translates into consequent buying interests thereby moving price action northward towards sustainable growth potentiality gearing the firm towards higher shareholder returns possible over time while jostling for competitive edge amidst existing peer groups all around biotech industry.
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Arrowhead Pharmaceuticals Inc. Sees Surge in Investor Interest and Positive Q1 Earnings Report for 2023
Arrowhead Pharmaceuticals, Inc. (ARWR) is a biotechnology company developing novel RNA interference (RNAi) medicines for the treatment of intractable diseases in the United States. Recently, several large investors have bought and sold shares of ARWR. Institutional investors and hedge funds now own 66.80% of the company’s stock.
Raymond James & Associates grew its stake in Arrowhead Pharmaceuticals by 11.3% during the first quarter, followed by Allspring Global Investments Holdings LLC which increased its holdings by 29.1%. Exchange Traded Concepts LLC raised its position in Arrowhead Pharmaceuticals by 0.7%, while Diversified Trust Co boosted its stake by 3.4% during the same period. Finally, Neo Ivy Capital Management grew its position by an astonishing 3,540.5% during the fourth quarter.
In related news, CEO Christopher Richard Anzalone sold 54,928 shares of ARWR stock in a transaction dated May 3rd at an average price of $39.14 per share, totalling $2,149,881.92 in value. Following the transaction, Anzalone’s shares were valued at approximately $147,218,769.32.
Additionally, Director Douglas B.Given sold 6,500 shares of ARWR stock on May 5th at an average price of $40.90 per share for a total value of $265,850.
ARWR stock opened trading on Monday at $35.24 with a fifty-day simple moving average of $35.67 and a two-hundred day simple moving average of $33.16.
On May 2nd Arrowhead Pharmaceuticals reported fiscal year first-quarter earnings data with an earnings-per-share (EPS) figure of $0.45 beating consensus estimates by $1.10 for the quarter but posting a negative net margin of 53.83%.
Arrowhead Pharmaceutical’s product pipeline includes RNAi therapeutic candidates like ARO-AAT, ARO-APOC3, ARO-ANG3 for the treatment of liver diseases, hypertriglyceridemia and dyslipidemia respectively. Others include ARO-HSD and ARO-DUX4 for liver diseases and facioscapulohumeral muscular dystrophy respectively. The biotech firm has also produced products such as ARO-XDH which is a phase 1 clinical trial candidate for uncontrolled gout.
In conclusion, Arrowhead Pharmaceuticals Inc. continues to push its promising products to market with its shareholder base owning 66.80% of the company’s stock. With several financial firms raising their positions and ARWR having a positive earnings-per-share ($0.45) in Q1 2023, prospects for this biotech firm look bright in the fight against intractable illnesses.