Here is What Hedge Funds Think About Arrowhead Pharmaceuticals Inc (ARWR)

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Consequently, key money managers were leading the bulls’ herd. OrbiMed Advisors, led by Samuel Isaly, initiated the most valuable position in Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR). Peter Kolchinsky’s RA Capital Management also initiated an $11.2 million position during the quarter. The following funds were also among the new ARWR investors: Joseph Edelman’s Perceptive Advisors, Lei Zhang’s Hillhouse Capital Management, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) but similarly valued. These stocks are Zumiez Inc. (NASDAQ:ZUMZ), Peoples Bancorp Inc. (NASDAQ:PEBO), Sorrentto Therapeutics Inc (NASDAQ:SRNE), and Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX). This group of stocks’ market valuations are closest to ARWR’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ZUMZ 6 15097 1
PEBO 4 6404 1
SRNE 5 50338 0
PGNX 16 121557 4

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $48 million. That figure was $71 million in ARWR’s case. Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) is the most popular stock in this table. On the other hand Peoples Bancorp Inc. (NASDAQ:PEBO) is the least popular one with only 4 bullish hedge fund positions. Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PGNX might be a better candidate to consider taking a long position in.

Disclosure: none.

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