About Arrowhead Pharmaceuticals, Inc. - Common Stock Company overview from Wikipedia

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ARWR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price

$87.28

Market Cap

$12.50B

P/E (TTM)

-9212.3

EPS (TTM)

$-0.01

Revenue (TTM)

$829M

Div Yield

—

ROE

-0.50%

Debt/Equity

—

52W Range

$19 – $95

ARWR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $829M

2016-09-30 → 2025-09-30

EPS $-0.01

2017-09-30 → 2025-09-30

Free Cash Flow $157M

2016-09-30 → 2025-09-30

Margins -0.20%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric

5Y trend

ARWR

Peer Median

P/E (TTM)

-9212.3

28.5

P/S (TTM)

15.1

20.1

P/B

26.8

12.9

Price / FCF

79.7

—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric

5Y trend

ARWR

Peer Median

Operating Margin

11.9%

—

Net Profit Margin

-0.20%

-48.4%

ROA

-0.13%

-28.4%

ROE

-0.50%

-49.2%

ROIC

12.3%

—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric

5Y trend

ARWR

Peer Median

Current Ratio

4.9

5.0

Quick Ratio

0.0

—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric

5Y trend

ARWR

Peer Median

Revenue YoY

23258.2%

—

Revenue CAGR 3Y

50.5%

—

Revenue CAGR 5Y

56.6%

—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric

5Y trend

ARWR

Peer Median

EPS (Diluted)

$-0.01

—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric

5Y trend

ARWR

Peer Median

ARWR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 20 analysts

Strong Buy 6 30.0%
Buy 13 65.0%
Hold 1 5.0%
Sell 0 0.0%
Strong Sell 0 0.0%

12-Month Price Target

11 analysts · 2026-08-17

Median $104.00

Mean $110.18

← Below all targets $87.28

Low $100.00

High $126.00

Median target $104.00 +19.2%

Mean target $110.18 +26.2%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise

0.51%

Period	EPS Actual	EPS Est	Surprise
June 30, 2026	$-1.36	$-1.35	-0.01%
March 31, 2026	$-0.93	$-1.21	0.28%
Dec. 31, 2025	$0.22	$0.26	-0.04%
Sept. 30, 2025	$-0.18	$-0.25	0.07%
June 30, 2025	$-1.26	$-1.05	-0.21%
March 31, 2025	$2.75	$-0.20	3.0%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
ARWR	$4.68B	-3449.0	23258.2%	-0.20%	-0.50%	—
NBIX	$14.20B	30.4	21.4%	16.7%	16.1%	—
BBIO	$14.90B	-20.2	126.3%	-146.0%	41.2%	—
BMRN	$11.43B	33.0	12.9%	10.8%	5.8%	—
EXEL	$11.44B	15.7	7.0%	33.7%	37.3%	—
MDGL	$13.30B	-45.3	432.1%	-30.1%	-44.4%	—
HALO	$7.93B	26.3	37.5%	22.7%	166.1%	—
PRAX	$7.43B	-21.9	249.5%	—	-47.3%	—
CYTK	$7.81B	-9.7	376.6%	-891.6%	152.7%	—
APGE	$5.16B	-17.9	—	—	—	—

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 15

Annual Income Statement data for ARWR
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$829M	$4M	$241M	$243M	$138M	$88M	$169M	$16M	$31M	$158.3K	$382.0K	$175.0K
R&D Expense	$607M	$506M	$353M	·	·	·	·	·	·	·	$47M	$23M
SG&A Expense	$124M	$99M	$93M	$124M	$81M	$52M	$27M	$19M	$17M	$24M	$8M	$6M
Operating Expenses	$731M	$605M	$446M	$422M	$287M	$181M	$108M	$72M	$68M	$82M	$96M	$53M
Operating Income	$98M	$-601M	$-205M	$-179M	$-149M	$-93M	$61M	$-56M	$-37M	$-82M	$-96M	$-53M
Interest Expense	·	·	$18M	$0	$0	·	·	·	·	·	·	·
Other Non-op	$5M	$-2M	$2M	$765.0K	$2M	$-583.0K	·	$7.5K	$1M	$57.4K	$417.9K	$82.1K
Pretax Income	$52M	$-612M	$-206M	$-173M	$-141M	$-85M	$68M	$-54M	$-34M	$-82M	$-92M	$-59M
Income Tax	$21M	$-3M	$3M	$4M	$2.0K	$2.0K	$174.0K	$2.4K	$2.4K	$2.4K	$2.4K	$5.3K
Net Income	$-2M	$-599M	$-205M	$-176M	$-141M	$-85M	$68M	$-54M	$-34M	$-82M	$-92M	$-59M
EPS (Basic)	$-0.01	$-5.00	$-1.92	$-1.67	$-1.36	$-0.84	$0.72	$-0.65	$-0.47	·	·	·
EPS (Diluted)	$-0.01	$-5.00	$-1.92	$-1.67	$-1.36	$-0.84	$0.69	$-0.65	$-0.47	·	·	·
Shares (Basic)	133,758,000	119,784,000	106,750,000	105,426,000	103,745,000	100,722,000	93,859,000	83,638,469	73,898,598	·	·	·
Shares (Diluted)	133,758,000	119,784,000	106,750,000	105,426,000	103,745,000	100,722,000	98,608,000	83,638,469	73,898,598	·	·	·
EBITDA	$121M	·	$-194M	$-170M	$-142M	$-89M	$64M	$-56M	$-37M	$-82M	$-96M	$-52M

Balance Sheet 27

Annual Balance Sheet data for ARWR
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Cash & Equivalents	·	·	·	·	$184M	$144M	$222M	$30M	$25M	$85M	$81M	$133M
Short-term Investments	$693M	·	·	$0	$127M	$85M	·	·	·	·	·	$22M
Receivables	$7M	$0	$0	$1M	$10M	$846.0K	$661.4K	$327.4K	$67.8K	$75.0K	·	·
Prepaid Expense	$11M	$10M	$9M	$7M	$4M	$4M	$3M	$1M	$867.4K	$1M	$3M	$588.6K
Other Current Assets	$14M	$5M	$4M	$20M	$2M	$2M	$3M	$640.1K	$1M	$4M	$823.6K	$48.5K
Current Assets	$951M	$695M	$416M	$405M	$385M	$322M	$265M	$79M	$68M	$91M	$103M	$155M
PP&E (Net)	$383M	$386M	$290M	$110M	$49M	$31M	$23M	$14M	$16M	$15M	$5M	$4M
PP&E (Gross)	$463M	$444M	$332M	$142M	$72M	$47M	$35M	$24M	$23M	$20M	$10M	$8M
Accum. Depreciation	$80M	$58M	$42M	$32M	$23M	$16M	$12M	$10M	$7M	$5M	$5M	$4M
Intangibles	$7M	$9M	$10M	$12M	$14M	$15M	$17M	$19M	$20M	$22M	$25M	$1M
Other Non-current Assets	$1M	$4M	$3M	$218.0K	$272.0K	$264.0K	$144.1K	$141.9K	$141.9K	$122.3K	$45.8K	·
Total Assets	$1.39B	$1.14B	$766M	$692M	$710M	$523M	$350M	$112M	$104M	$128M	$132M	$183M
Accounts Payable	$18M	$11M	$36M	$3M	$9M	$7M	$8M	$3M	$4M	$12M	$5M	$3M
Accrued Liabilities	$90M	$63M	$40M	$47M	$14M	$5M	$7M	$5M	$5M	$5M	$5M	$1M
Short-term Debt	·	·	·	·	·	·	·	$223.8K	$208.5K	$194.3K	·	$50.0K
Current Liabilities	$195M	$103M	$105M	$139M	$147M	$41M	$97M	$12M	$19M	$26M	$16M	$12M
Capital Leases	$104M	$111M	$105M	$79M	$23M	$20M	·	·	·	·	$540.8K	$758.3K
Other Non-current Liabilities	·	·	·	$0	·	·	·	$200.0K	$200.0K	$200.0K	$200.0K	$255.2K
Total Debt	·	·	·	·	·	·	·	$223.8K	$208.5K	$194.3K	·	$50.0K
Common Stock	$231.0K	$217.0K	$200.0K	$198.0K	$197.0K	$195.0K	$187.9K	$180.9K	$167.2K	$162.1K	$151.9K	$147.0K
Paid-in Capital	·	·	·	·	·	·	·	$583M	$514M	$494M	$427M	$391M
Retained Earnings	$-1.63B	$-1.63B	$-1.03B	$-821M	$-645M	$-504M	$-419M	$-487M	$-433M	$-398M	$-317M	$-225M
Treasury Stock	$53M	$0	·	·	·	·	·	·	·	·	·	·
AOCI	$6M	$5M	$-3M	$-136.0K	$-69.0K	$18.0K	$-391.6K	$-21.6K	$33.2K	$7.4K	$-136.4K	·
Stockholders' Equity	$466M	$185M	$271M	$399M	$409M	$462M	$244M	$95M	$81M	$96M	$110M	$167M
Liabilities + Equity	$1.39B	$1.14B	$766M	$692M	$710M	$523M	$350M	$112M	$104M	$128M	$132M	$183M
Shares Outstanding	135,702,000	124,376,000	107,312,000	105,960,000	104,327,000	102,376,000	95,506,271	88,505,302	74,785,726	69,746,685	59,544,677	54,656,936

Cash Flow 15

Annual Cash Flow data for ARWR
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
D&A	$22M	$17M	$11M	$9M	$7M	$4M	$3M	$3M	$3M	$3M	$2M	$1M
Stock-based Comp	$63M	$74M	$78M	$121M	$77M	$43M	$12M	$8M	$8M	$12M	$10M	$6M
Deferred Tax	$0	$0	$0	$0	$0	·	·	·	·	·	·	·
Amort. of Intangibles	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$1M	$54.7K
Other Non-cash	$96M	·	$-37M	$-90M	$229M	$-58M	$90M	·	·	·	·	$16M
Operating Cash Flow	$180M	$-463M	$-154M	$-136M	$171M	$-96M	$173M	$-47M	$-24M	$-64M	$-66M	$-35M
CapEx	$23M	$141M	$177M	$53M	$24M	$12M	$12M	$1M	$8M	$4M	$2M	$2M
Investing Cash Flow	$-129M	$-420M	$-96M	$-5M	$-142M	$-241M	$-48M	$-7M	$-49M	$13M	·	·
Stock Issued	$241M	$429M	$0	$0	$0	$250M	$61M	$57M	$12M	$52M	·	$173M
Net Stock Activity	$241M	·	·	$0	·	$250M	$61M	$57M	$12M	$52M	·	·
Financing Cash Flow	$74M	$871M	$253M	$65M	$11M	$258M	$66M	$60M	$12M	$55M	·	·
Net Change in Cash	·	·	·	·	$41M	$-78M	$192M	$5M	$-61M	$4M	$-51M	$113M
Taxes Paid	$814.0K	$-4M	$0	$-2.0K	$-2.0K	$103.0K	$-302.0K	$-2.4K	·	·	·	·
Free Cash Flow	$157M	·	$-331M	$-189M	$148M	$-107M	$161M	$-49M	$-32M	$-68M	$-68M	$-37M
Levered FCF	·	·	$-349M	·	·	·	·	·	·	·	·	·

Profitability 7

Annual Profitability data for ARWR
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Operating Margin	11.9%	·	-85.2%	-73.4%	-107.8%	-105.9%	36.2%	-346.5%	-117.8%	-51627.1%	-25124.1%	-30443.6%
Net Margin	-0.20%	·	-85.3%	-72.4%	-101.8%	-96.1%	40.3%	-337.3%	·	-51614.6%	-24068.3%	-33503.0%
Pretax Margin	6.2%	·	-85.8%	-71.0%	-101.8%	-96.1%	40.4%	-337.3%	-109.5%	-51613.1%	-24067.7%	-33554.3%
EBITDA Margin	14.5%	·	-80.7%	-69.8%	-103.0%	-101.0%	37.9%	-346.5%	-117.8%	-51627.1%	-25124.1%	-29674.7%
ROA	-0.13%	·	-28.2%	-25.1%	-22.9%	-19.4%	29.5%	-50.5%	·	-62.8%	-58.4%	-53.3%
ROE	-0.50%	·	-61.3%	-45.7%	-33.0%	-17.7%	40.0%	-61.5%	·	-79.4%	-66.5%	-60.4%
ROIC	12.3%	·	-76.6%	-45.8%	-36.5%	-20.2%	24.9%	-58.3%	-45.3%	-85.4%	-87.1%	-32.0%

Liquidity & Solvency 4

Annual Liquidity & Solvency data for ARWR
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Current Ratio	4.9	·	4.0	2.9	2.6	7.9	2.7	6.4	3.6	3.5	6.5	13.1
Quick Ratio	0.0	·	0.0	0.0	2.2	5.6	2.3	2.5	1.3	3.3	5.1	13.0
Debt / Equity	·	·	·	·	·	·	·	0.0	0.0	0.0	·	0.0
Interest Coverage	·	·	-11.2	·	·	·	·	·	·	·	·	·

Efficiency 2

Annual Efficiency data for ARWR
Metric	Trend	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Asset Turnover		0.7	·	0.3	0.3	0.2	0.2	0.7	0.1	0.3	0.0	0.0	0.0
Receivables Turnover		243.1	·	341.5	41.7	24.9	116.8	341.4	81.7	439.9	2.1	·	·

Per Share 5

Annual Per Share data for ARWR
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Book Value / Share	$3.43	·	$2.53	$3.76	$3.92	$4.51	$2.56	$1.08	$1.09	$1.37	$1.85	$3.05
Revenue / Share	$6.20	·	$2.26	$2.31	$1.33	$0.87	$1.71	·	·	·	·	·
Cash Flow / Share	$1.34	·	$-1.44	$-1.29	$1.65	$-0.95	$1.75	·	·	·	·	·
Cash / Share	·	·	·	·	$1.77	$1.40	$2.32	$0.34	$0.33	$1.22	$1.36	$2.42
EPS (TTM)	$-0.01	$-5.00	$-1.92	$-1.67	$-1.36	$-0.84	$0.69	$-0.65	$-0.47	·	·	·

Growth Rates 3

Annual Growth Rates data for ARWR
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue YoY	23258.2%	-98.5%	-1.0%	75.9%	57.2%	·	·	·	·	·	·	·
Revenue CAGR 3Y	50.5%	-70.5%	39.9%	·	·	·	·	·	·	·	·	·
Revenue CAGR 5Y	56.6%	·	·	·	·	·	·	·	·	·	·	·

Valuation (TTM) 14

Annual Valuation (TTM) data for ARWR
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue TTM	$829M	$4M	$241M	$243M	$138M	$88M	$169M	$16M	$31M	$158.3K	$382.0K	$175.0K
Net Income TTM	$-2M	$-599M	$-205M	$-176M	$-141M	$-85M	$68M	$-54M	$-34M	$-82M	$-92M	$-59M
Market Cap	$4.68B	·	$2.88B	$3.50B	$6.51B	$4.41B	$2.69B	$1.70B	$324M	$513M	$343M	$807M
Enterprise Value	·	·	·	·	·	·	·	$1.67B	$299M	$427M	·	$653M
P/E	-3449.0	-3.9	-14.0	-19.8	-45.9	-51.3	40.8	-29.5	-9.2	·	·	·
P/S	5.6	·	12.0	14.4	47.1	50.1	15.9	105.1	10.3	3237.7	897.8	4613.0
P/B	10.0	·	10.6	8.8	15.9	9.5	11.0	17.7	4.0	5.4	3.1	4.8
P / Tangible Book	10.2	13.6	11.0	9.1	16.5	9.9	·	·	·	·	·	·
P / Cash Flow	26.1	·	-18.7	-25.7	38.0	-46.2	15.6	-35.9	-13.5	-8.0	-5.2	-22.8
P / FCF	29.8	·	-8.7	-18.5	44.1	-41.1	16.7	-34.9	-10.2	-7.5	-5.1	-21.7
EV / EBITDA	·	·	·	·	·	·	·	-29.8	-8.1	-5.2	·	-12.6
EV / FCF	·	·	·	·	·	·	·	-34.3	-9.4	-6.3	·	-17.6
EV / Revenue	·	·	·	·	·	·	·	103.3	9.5	2699.8	·	3732.4
Earnings Yield	-0.03%	-25.8%	-7.1%	-5.1%	-2.2%	-1.9%	2.5%	-3.4%	-10.8%	·	·	·

Income Statement 15

Quarterly Income Statement data for ARWR
Metric	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Revenue	$75M	$74M	$264M	$256M	$28M	$543M	$2M	$0	$0	$0	$4M	$16M	$16M	$146M	$63M	$32M
R&D Expense	$198M	$173M	$177M	$175M	$162M	$133M	$137M	·	·	·	·	·	·	·	·	·
SG&A Expense	$47M	$42M	$46M	$38M	$31M	$28M	$27M	$26M	$24M	$25M	$24M	$25M	$24M	$23M	$21M	$32M
Operating Expenses	$245M	$215M	$223M	$212M	$193M	$162M	$164M	$162M	$176M	$126M	$140M	$124M	$119M	$98M	$105M	$115M
Operating Income	$-170M	$-141M	$41M	$44M	$-166M	$381M	$-161M	$-162M	$-176M	$-126M	$-137M	$-108M	$-103M	$48M	$-42M	$-84M
Interest Expense	·	·	·	·	·	·	·	·	·	$7M	$5M	·	$5M	$5M	$3M	·
Other Non-op	$1M	$-2M	$277.0K	$5M	$-176.0K	$438.0K	$341.0K	$-3M	$760.0K	$189.0K	$421.0K	$717.0K	$306.0K	$8.0K	$507.0K	$90.0K
Pretax Income	$-179M	$-138M	$28M	$36M	$-179M	$370M	$-175M	$-173M	$-174M	$-127M	$-139M	$-109M	$-103M	$48M	$-42M	$-82M
Income Tax	$11.0K	$7.0K	$29.0K	$20M	$-437.0K	$2M	$103.0K	$546.0K	$0	$0	$-3M	$2M	$742.0K	$0	$17.0K	$4M
Net Income	$-194M	$-133M	$31M	$-24M	$-175M	$370M	$-173M	$-171M	$-171M	$-125M	$-133M	$-110M	$-103M	$49M	$-41M	$-86M
EPS (Basic)	$-1.36	$-0.93	$0.22	$-0.14	$-1.26	$2.78	$-1.39	$-1.36	$-1.38	$-1.02	$-1.24	$-1.03	$-0.96	$0.46	$-0.39	$-0.81
EPS (Diluted)	$-1.36	$-0.93	$0.22	$-0.11	$-1.26	$2.75	$-1.39	$-1.36	$-1.38	$-1.02	$-1.24	$-1.02	$-0.96	$0.45	$-0.39	$-0.80
Shares (Basic)	143,378,000	142,417,000	137,039,000	-263,492,000	139,039,000	133,363,000	124,848,000	-235,115,000	124,199,000	123,285,000	107,415,000	-213,050,000	107,004,000	106,757,000	106,039,000	-210,406,000
Shares (Diluted)	143,378,000	142,417,000	140,706,000	-264,613,000	139,039,000	134,484,000	124,848,000	-235,115,000	124,199,000	123,285,000	107,415,000	-214,436,000	107,004,000	108,143,000	106,039,000	-212,790,000
EBITDA	$-164M	$-135M	$47M	·	$-160M	$387M	$-157M	·	$-172M	$-122M	$-133M	·	$-100M	$50M	$-40M	·

Balance Sheet 24

Quarterly Balance Sheet data for ARWR
Metric	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Cash & Equivalents	·	·	·	·	·	·	·	·	$69M	$128M	$58M	·	$105M	$135M	$202M	·
Short-term Investments	·	$1.60B	$715M	·	·	·	·	·	·	·	·	·	·	·	·	·
Receivables	$9M	$16M	$219M	$7M	$10M	$2M	$2M	$0	·	·	·	·	$1M	$69M	$40M	·
Prepaid Expense	$25M	$22M	$16M	$11M	$24M	$24M	$9M	$10M	$9M	$11M	$11M	·	$10M	$10M	$8M	·
Other Current Assets	$36M	$18M	$23M	$14M	$13M	$12M	$6M	$5M	$4M	$8M	$7M	·	$7M	$14M	$25M	·
Current Assets	$1.67B	$1.84B	$1.17B	$951M	$947M	$1.14B	$571M	$695M	$450M	$542M	$238M	·	$470M	$575M	$575M	·
PP&E (Net)	$373M	$375M	$379M	$383M	$381M	$385M	$387M	$386M	$376M	$359M	$333M	·	$231M	$185M	$147M	·
PP&E (Gross)	$471M	$466M	$465M	$463M	$455M	$453M	$450M	$444M	$430M	$409M	$379M	·	$270M	$221M	$181M	·
Accum. Depreciation	$97M	$91M	$86M	$80M	$74M	$68M	$63M	$58M	$54M	$50M	$46M	·	$39M	$36M	$34M	·
Intangibles	$6M	$6M	$6M	$7M	$7M	$8M	$8M	$9M	$9M	$9M	$10M	·	$11M	$11M	$12M	·
Other Non-current Assets	$6M	$5M	$1M	$1M	$1M	$1M	$3M	$4M	$4M	$210.0K	$232.0K	·	$210.0K	$210.0K	$210.0K	·
Total Assets	$2.11B	$2.27B	$1.60B	$1.39B	$1.38B	$1.57B	$1.01B	$1.14B	$884M	$955M	$626M	·	$796M	$891M	$891M	·
Accounts Payable	$28M	$31M	$33M	$18M	$33M	$10M	$14M	$11M	$27M	$9M	$4M	·	$8M	$10M	$796.0K	·
Accrued Liabilities	$86M	$77M	$130M	$90M	$65M	$78M	$59M	$63M	$48M	$37M	$47M	·	$38M	$40M	$48M	·
Current Liabilities	$283M	$295M	$347M	$195M	$195M	$221M	$94M	$103M	$97M	$65M	$64M	·	$70M	$87M	$122M	·
Capital Leases	$114M	$100M	$102M	$104M	$106M	$108M	$109M	$111M	$112M	$114M	$115M	·	$80M	$80M	$79M	·
Other Non-current Liabilities	·	·	·	·	·	·	·	·	·	·	·	·	$669.0K	·	·	·
Common Stock	$237.0K	$236.0K	$233.0K	$231.0K	$230.0K	$230.0K	$218.0K	$217.0K	$217.0K	$217.0K	$200.0K	·	$199.0K	$199.0K	$199.0K	·
Retained Earnings	$-1.92B	$-1.73B	$-1.60B	$-1.63B	$-1.60B	$-1.43B	$-1.80B	$-1.63B	$-1.45B	$-1.28B	$-1.16B	·	$-916M	$-813M	$-862M	·
Treasury Stock	$53M	$53M	$53M	$53M	·	·	·	$0	·	·	·	·	·	·	·	·
AOCI	$-1M	$742.0K	$7M	$6M	$5M	$4M	$4M	$5M	$-987.0K	$-1M	$-1M	·	$-411.0K	$-332.0K	$-258.0K	·
Stockholders' Equity	$466M	$614M	$568M	$466M	$522M	$683M	$53M	$185M	$331M	$484M	$160M	·	$365M	$447M	$377M	·
Liabilities + Equity	$2.11B	$2.27B	$1.60B	$1.39B	$1.38B	$1.57B	$1.01B	$1.14B	$884M	$955M	$626M	·	$796M	$891M	$891M	·
Shares Outstanding	141,135,000	140,571,000	137,391,000	135,702,000	138,144,000	138,062,000	125,572,000	124,376,000	124,227,000	124,133,000	107,500,000	107,312,000	107,102,000	106,869,000	106,140,000	·

Cash Flow 14

Quarterly Cash Flow data for ARWR
Metric	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
D&A	$6M	$6M	$6M	$6M	$6M	$6M	$5M	$5M	$4M	$4M	$4M	$3M	$3M	$2M	$2M	$2M
Stock-based Comp	$15M	$17M	$19M	$19M	$13M	$16M	$15M	$19M	$17M	$18M	$20M	$18M	$20M	$21M	$19M	$29M
Amort. of Intangibles	$400.0K	$400.0K	$400.0K	$500.0K	$400.0K	$400.0K	$400.0K	$500.0K	$400.0K	$400.0K	$400.0K	$500.0K	$400.0K	$400.0K	$400.0K	$500.0K
Other Non-cash	·	·	$-43M	·	·	·	$7M	·	·	·	$-8M	·	·	·	$-56M	·
Operating Cash Flow	$-177M	$84M	$13M	$20M	$-155M	$460M	$-146M	$-137M	$-115M	$-92M	$-118M	$-26M	$-21M	$-32M	$-76M	$-69M
CapEx	$4M	$3M	$2M	$7M	$2M	$5M	$8M	$24M	$14M	$34M	$69M	$64M	$47M	$27M	$39M	$33M
Investing Cash Flow	$44M	$-894M	$-24M	$73M	$141M	$-420M	$77M	$-223M	$7M	$-269M	$65M	$31M	$-10M	$-36M	$-81M	$36M
Stock Issued	·	·	$47M	$0	$0	$241M	$0	$0	$0	·	·	$0	$0	·	·	·
Net Stock Activity	·	·	$47M	·	·	·	·	·	·	·	·	·	·	·	·	·
Financing Cash Flow	$-449.0K	$796M	$-15M	$4M	$-43M	$92M	$21M	$389M	$50M	$431M	$267.0K	$821.0K	$1M	$520.0K	$251M	$855.0K
Net Change in Cash	·	·	·	·	·	·	·	·	·	·	·	·	$-30M	$-67M	$94M	·
Taxes Paid	$22.0K	$12M	$10M	$733.0K	$0	$92.0K	$11.0K	$-7M	$6M	$4M	$-999.0K	$0	$0	$0	$0	$-2.0K
Free Cash Flow	·	·	$11M	·	·	·	$-154M	·	·	·	$-186M	·	·	·	$-114M	·
Levered FCF	·	·	·	·	·	·	·	·	·	·	$-192M	·	·	·	·	·

Profitability 7

Quarterly Profitability data for ARWR
Metric	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Operating Margin	-226.0%	-191.6%	15.5%	·	-596.2%	70.2%	-6456.5%	·	·	·	-3845.2%	·	-649.0%	32.9%	-67.4%	·
Net Margin	-258.2%	-180.0%	11.7%	·	-631.1%	68.3%	-6923.4%	·	·	·	-3741.6%	·	-650.5%	33.3%	-66.1%	·
Pretax Margin	-237.7%	-186.6%	10.7%	·	-645.0%	68.1%	-7004.6%	·	·	·	-3905.6%	·	-653.3%	32.6%	-66.8%	·
EBITDA Margin	-217.8%	-183.6%	17.7%	·	-575.3%	71.3%	-6264.5%	·	·	·	-3738.2%	·	-630.7%	34.4%	-63.7%	·
ROA	-11.1%	-6.9%	2.4%	·	-15.5%	29.3%	-21.1%	·	-20.3%	-13.6%	-17.5%	·	-13.3%	6.1%	-5.4%	·
ROE	-39.3%	-20.5%	9.9%	·	-41.1%	63.5%	-162.5%	·	-49.1%	-26.9%	-49.4%	·	-25.1%	10.8%	-11.0%	·
ROIC	-36.5%	-23.0%	7.2%	·	-31.6%	55.5%	-307.1%	·	-53.3%	-26.1%	-83.1%	·	-28.3%	10.8%	-11.2%	·

Liquidity & Solvency 3

Quarterly Liquidity & Solvency data for ARWR
Metric	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Current Ratio	5.9	6.2	3.4	·	4.9	5.1	6.1	·	4.7	8.3	3.7	·	6.7	6.6	4.7	·
Quick Ratio	0.0	5.5	2.7	·	0.0	0.0	0.0	·	0.7	2.0	0.9	·	1.5	2.3	2.0	·
Interest Coverage	·	·	·	·	·	·	·	·	·	-17.4	-25.4	·	-19.9	9.5	·	·

Efficiency 2

Quarterly Efficiency data for ARWR
Metric	Trend	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Asset Turnover		0.0	0.0	0.2	·	0.0	0.4	0.0	·	0.0	0.0	0.0	·	0.0	0.2	0.1	·
Receivables Turnover		8.2	8.2	2.4	·	5.1	15.1	0.1	·	·	·	·	·	21.3	4.1	3.1	·

Per Share 5

Quarterly Per Share data for ARWR
Metric	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Book Value / Share	$3.30	$4.37	$4.14	·	$3.78	$4.95	$0.42	·	$2.66	$3.90	$1.49	·	$3.41	$4.18	$3.55	·
Revenue / Share	$0.52	$0.52	$1.88	·	$0.20	$4.04	$0.02	·	$0.00	$0.00	$0.03	·	$0.15	$1.35	$0.59	·
Cash Flow / Share	·	·	$0.10	·	·	·	$-1.17	·	·	·	$-1.10	·	·	·	$-0.71	·
Cash / Share	·	·	·	·	·	·	·	·	$0.56	$1.03	$0.54	·	$0.98	$1.26	$1.91	·
EPS (TTM)	$-3.33	$0.78	$0.32	·	$-1.28	$-1.04	$-5.03	·	$-4.60	$-2.77	$-2.14	·	$-1.58	$-0.21	$-1.26	·

Valuation (TTM) 10

Quarterly Valuation (TTM) data for ARWR
Metric	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Revenue TTM	$441M	$908M	$837M	·	$573M	$545M	$6M	·	$19M	$166M	$228M	·	$257M	$393M	$274M	·
Net Income TTM	$-471M	$93M	$53M	·	$-149M	$-99M	$-602M	·	$-532M	$-312M	$-228M	·	$-168M	$-20M	$-132M	·
Market Cap	$11.50B	$8.81B	$9.12B	·	$2.18B	$1.76B	$2.36B	·	$3.23B	$3.55B	$3.29B	·	$3.82B	$2.71B	$4.31B	·
P/E	-24.5	80.4	207.5	·	-12.3	-12.2	-3.7	·	-5.7	-10.3	-14.3	·	-22.6	-121.0	-32.2	·
P/S	26.1	9.7	10.9	·	3.8	3.2	390.1	·	166.6	21.4	14.4	·	14.9	6.9	15.7	·
P/B	24.7	14.4	16.0	·	4.2	2.6	44.9	·	9.8	7.3	20.5	·	10.5	6.1	11.4	·
P / Tangible Book	25.0	14.5	16.2	·	4.2	2.6	53.1	·	10.0	7.5	21.8	·	10.8	6.2	11.8	·
P / Cash Flow	·	·	676.6	·	·	·	-16.1	·	·	·	-27.9	·	·	·	-57.0	·
P / FCF	·	·	804.9	·	·	·	-15.4	·	·	·	-17.6	·	·	·	-37.6	·
Earnings Yield	-4.1%	1.2%	0.48%	·	-8.1%	-8.2%	-26.8%	·	-17.7%	-9.7%	-7.0%	·	-4.4%	-0.83%	-3.1%	·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement

	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30
Revenue	$829M	$4M	$241M	$243M	$138M
Operating Margin %	11.9%	—	-85.2%	-73.4%	-107.8%
Net Income	$-2M	$-599M	$-205M	$-176M	$-141M
Diluted EPS	$-0.01	$-5.00	$-1.92	$-1.67	$-1.36

Balance Sheet

	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30
Current Ratio	4.9	—	4.0	2.9	2.6
Quick Ratio	0.0	—	0.0	0.0	2.2

Cash Flow

	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30
Free Cash Flow	$157M	—	$-331M	$-189M	$148M

Latest News Recent headlines mentioning this company

Arrowhead Pharmaceuticals Inc. (ARWR): Billionaire Ken Fisher Bets Big on Pharma Yahoo Finance · 5 months ago

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Institutional owners (13F) 534 filers · $7.8B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
129 (+17 vs prior Q)	54 (-1 vs prior Q)	150 (-3 vs prior Q)	159 (+27 vs prior Q)	+18.3M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
VANGUARD GROUP INC	$940,062,881	14,159,706	11.99%	Shares
Avoro Capital Advisors LLC	$925,591,288	11,355,555	11.80%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$517,698,946	6,351,355	6.60%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$498,103,779	6,110,953	6.35%	Shares
STATE STREET CORP	$464,170,106	5,694,640	5.92%	Shares
FMR LLC	$392,073,778	4,810,131	5.00%	Shares
NORGES BANK	$317,606,649	3,896,536	4.05%	Shares
FRED ALGER MANAGEMENT, LLC	$269,139,418	3,301,919	3.43%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$254,549,119	2,987,563	3.25%	Shares
BAKER BROS. ADVISORS LP	$162,431,742	1,992,783	2.07%	Shares
Siren, L.L.C.	$139,828,449	1,715,476	1.78%	Shares
Vestal Point Capital, LP	$128,378,250	1,575,000	1.64%	Shares
DEERFIELD MANAGEMENT COMPANY, L.P.	$113,221,873	1,389,055	1.44%	Shares
FIRST TRUST ADVISORS LP	$110,276,346	1,352,918	1.41%	Shares
Driehaus Capital Management LLC	$110,083,820	1,350,556	1.40%	Shares
Hood River Capital Management LLC	$91,352,088	1,120,747	1.16%	Shares
Holocene Advisors, LP	$90,164,487	1,106,177	1.15%	Shares
DIMENSIONAL FUND ADVISORS LP	$87,578,827	1,074,455	1.12%	Shares
Fisher Asset Management, LLC	$78,061,392	957,691	1.00%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$75,309,290	923,927	0.96%	Shares
VANGUARD FIDUCIARY TRUST CO	$73,093,114	896,738	0.93%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$70,718,076	867,600	0.90%	Call option
SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC	$67,673,433	830,247	0.86%	Shares
Western Financial Corp/CA	$66,857,681	820,239	0.85%	Shares
GOLDMAN SACHS GROUP INC	$55,222,862	677,498	0.70%	Shares
Connor, Clark & Lunn Investment Management Ltd.	$50,990,129	625,569	0.65%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$48,626,665	596,573	0.62%	Shares
TWO SIGMA INVESTMENTS, LP	$47,325,440	580,609	0.60%	Shares
Pictet Asset Management Holding SA	$46,708,118	573,419	0.60%	Shares
BNP PARIBAS FINANCIAL MARKETS	$45,534,991	558,643	0.58%	Shares
1832 Asset Management L.P.	$43,893,135	538,500	0.56%	Shares
PRINCIPAL FINANCIAL GROUP INC	$41,902,905	514,083	0.53%	Shares
Balyasny Asset Management L.P.	$38,370,343	470,744	0.49%	Shares
RENAISSANCE TECHNOLOGIES LLC	$38,221,751	468,921	0.49%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$34,600,995	424,500	0.44%	Put option
RHUMBLINE ADVISERS	$30,557,778	374,897	0.39%	Shares
EVENTIDE ASSET MANAGEMENT, LLC	$30,158,700	370,000	0.38%	Shares
AMERICAN CENTURY COMPANIES INC	$29,687,001	364,211	0.38%	Shares
MILLENNIUM MANAGEMENT LLC	$26,844,259	329,337	0.34%	Shares
Caption Management, LLC	$25,724,556	315,600	0.33%	Call option
LPL Financial LLC	$25,330,147	310,761	0.32%	Shares
Artisan Partners Limited Partnership	$25,325,646	310,706	0.32%	Shares
CITADEL ADVISORS LLC	$21,755,019	266,900	0.28%	Call option
BANK OF AMERICA CORP /DE/	$21,066,994	258,459	0.27%	Shares
California Public Employees Retirement System	$20,892,154	256,314	0.27%	Shares
Squarepoint Ops LLC	$20,858,980	255,907	0.27%	Shares
ENVESTNET ASSET MANAGEMENT INC	$20,722,128	254,228	0.26%	Shares
Aberdeen Group plc	$20,537,912	251,968	0.26%	Shares
Swiss National Bank	$19,472,739	238,900	0.25%	Shares
Privium Fund Management B.V.	$19,091,435	234,222	0.24%	Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	$17,780,021	218,133	0.23%	Shares
Life Cycle Investment Partners Ltd	$17,041,133	209,068	0.22%	Shares
UBS Group AG	$16,742,806	205,408	0.21%	Shares
Assenagon Asset Management S.A.	$16,459,070	201,927	0.21%	Shares
Woodline Partners LP	$16,316,998	200,184	0.21%	Shares
Integral Health Asset Management, LLC	$16,302,000	200,000	0.21%	Shares
BlackRock, Inc.	$16,111,919	197,668	0.21%	Shares
MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC	$15,603,622	191,432	0.20%	Shares
PINNACLE ASSOCIATES LTD	$13,867,378	170,131	0.18%	Shares
WCM INVESTMENT MANAGEMENT, LLC	$13,784,176	171,232	0.18%	Shares
SEB Asset Management AB	$12,895,265	158,205	0.16%	Shares
Clearbridge Investments, LLC	$12,806,043	157,110	0.16%	Shares
Affinity Asset Advisors, LLC	$12,226,500	150,000	0.16%	Shares
AMERIPRISE FINANCIAL INC	$12,132,846	148,851	0.15%	Shares
WEALTH EFFECTS LLC	$12,006,423	147,300	0.15%	Shares
Retirement Systems of Alabama	$11,874,947	145,687	0.15%	Shares
HighTower Advisors, LLC	$11,443,515	140,394	0.15%	Shares
JANE STREET GROUP, LLC	$11,134,266	136,600	0.14%	Call option
Weiss Asset Management LP	$10,923,481	134,014	0.14%	Shares
BANK OF NOVA SCOTIA	$10,906,451	133,805	0.14%	Shares
ALLIANCEBERNSTEIN L.P.	$10,863,716	173,265	0.14%	Shares
PFM Health Sciences, LP	$10,732,177	131,667	0.14%	Shares
Tetragon Partners GP Ltd	$10,635,751	130,484	0.14%	Shares
JPMORGAN CHASE & CO	$10,476,675	130,145	0.13%	Shares
Rhenman & Partners Asset Management AB	$10,433,280	128,000	0.13%	Shares
VANGUARD ASSET MANAGEMENT, Ltd	$9,708,004	119,102	0.12%	Shares
Catalyst Funds Management Pty Ltd	$9,585,576	117,600	0.12%	Shares
Universal- Beteiligungs- und Servicegesellschaft mbH	$9,487,193	116,393	0.12%	Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE	$9,125,452	111,955	0.12%	Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	$9,048,425	144,313	0.12%	Shares
SEI INVESTMENTS CO	$8,993,976	110,342	0.11%	Shares
ACT CAPITAL MANAGEMENT, LLC	$8,974,251	110,100	0.11%	Shares
HSBC HOLDINGS PLC	$8,966,100	110,000	0.11%	Shares
D. E. Shaw & Co., Inc.	$8,904,397	109,243	0.11%	Shares
Empowered Funds, LLC	$8,806,422	108,041	0.11%	Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM	$8,503,286	104,322	0.11%	Shares
Nuveen, LLC	$8,446,474	103,625	0.11%	Shares
SILVERCREST ASSET MANAGEMENT GROUP LLC	$8,445,740	103,616	0.11%	Shares
VICTORY CAPITAL MANAGEMENT INC	$8,209,443	100,717	0.10%	Shares
JANE STREET GROUP, LLC	$8,167,302	100,200	0.10%	Put option
Ikarian Capital, LLC	$8,151,000	100,000	0.10%	Put option
Dorsey Wright & Associates	$7,944,454	97,466	0.10%	Shares
NEW YORK STATE COMMON RETIREMENT FUND	$7,785,428	95,515	0.10%	Shares
KEYSTONE INVESTORS PTE LTD	$7,715,818	94,661	0.10%	Shares
Legal & General Group Plc	$7,248,684	88,930	0.09%	Shares
JANE STREET GROUP, LLC	$7,194,154	88,261	0.09%	Shares
Aquilo Capital Management, LLC	$7,008,656	550,130	0.09%	Shares
VOYA INVESTMENT MANAGEMENT LLC	$6,828,256	83,772	0.09%	Shares
MILLENNIUM MANAGEMENT LLC	$6,374,082	78,200	0.08%	Call option
Transamerica Financial Advisors, LLC	$6,309,121	77,403	0.08%	Shares

Company insiders 32 insiders · 16 officers · 13 directors

Insider	Role	Last activity	Shares owned	Sells 12m	Net 12m
Christopher Richard Anzalone	Chief Executive Officer	Dec. 20, 2022 A	3,720,714	0	$0
Daniel Joseph Apel	Chief Financial Officer	April 22, 2026 S	162,905	3	$-934,286
Kenneth Allen Myszkowski	Chief Financial Officer	Jan. 4, 2023 A	396,704	0	$0
McDonnel Paul Clayton	CFO (former)	July 17, 2009 J	—	0	$0
Joseph Theodore Kingsley III	Chief Financial Officer	March 29, 2007 A	12,000	0	$0
Leon Ekchian	President	Nov. 14, 2005 A	—	0	$0
Patrick O'Brien	COO and General Counsel	Jan. 5, 2023 S	413,375	0	$0
Bruce D Given	Chief Operating Officer	April 28, 2020 M	850,730	0	$0
Tracie Oliver	Chief Commercial Officer	Jan. 4, 2023 A	70,500	0	$0
Javier San Martin	Chief Medical Officer	Jan. 4, 2023 A	151,500	0	$0
Curt Bradshaw	Chief Scientific Officer	Nov. 20, 2020 S	0	0	$0
Zhen Li	Snr. VP, Chem and Non-Clin Dev	Jan. 14, 2019 S	201,700	0	$0
Peter Brian Leone	VP, Strategic Bus. Initiatives	Oct. 19, 2018 M	130,000	0	$0
David L. Lewis	Chief Scientific Officer	Jan. 1, 2016 A	0	0	$0
STEWART R BRUCE	Executive Chairman	March 4, 2010 A	711,500	0	$0
James M Phillips JR	Secretary	March 31, 2004 A	—	0	$0
Matthew Gregory Cohen	Director	June 15, 2026 A	11,882	0	$0
Douglas S Ingram	Director	Dec. 16, 2025 A	46,215	0	$0
Douglas B Given	Director	Feb. 27, 2023 S	13,000	0	$0
Victoria Vakiener	Director	Jan. 10, 2023 A	23,284	0	$0
Marianne De Backer	Director	Jan. 10, 2023 A	31,267	0	$0
William D. Waddill	Director	Jan. 10, 2023 A	36,817	0	$0
Mauro Ferrari	Director	Jan. 10, 2023 A	50,838	0	$0
Edward W Frykman	Director	Jan. 1, 2018 A	148,852	0	$0
Charles Mckenney	Director	March 4, 2015 A	42,220	0	$0
Leroy T Rahn	Director	March 4, 2010 A	—	0	$0
David M Knott	10% owner	March 21, 2007 S	742,600	0	$0
Marshall Robert Ching	10% owner	June 23, 2005 U	28,666	0	$0
Adeoye Y Olukotun	—	Dec. 19, 2025 S	33,600	3	$-676,623
Michael S Perry	—	Dec. 16, 2025 A	123,059	1	$-991,738
James C Hamilton	—	Jan. 5, 2023 S	191,484	0	$0
James Hassard	—	June 22, 2021 S	105,750	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 3 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer	Filed	Stake	Status	Purpose	Filing
Sarepta Therapeutics, Inc., Sarepta Therapeutics Investments, Inc. ×2 filings	Aug. 15, 2025	0.00%	Amendment	—	SEC
Silence Therapeutics Plc ×3 filings	Dec. 8, 2017	—	Initial filing	—	SEC
Novartis Institutes for BioMedical Research, Inc., Novartis AG ×2 filings	Nov. 28, 2017	—	Initial filing	—	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 95 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
IBRN · iShares Trust	4.47%	4,021 SH	Aug. 8, 2026	Daily
GNOM · Global X Funds	4.07%	29,150 NS	May 31, 2026	N-PORT
HTEC · EXCHANGE TRADED CONCEPTS TRUST	2.56%	18,591 NS	April 30, 2026	N-PORT
RFG · Invesco Exchange-Traded Fund Trust	2.46%	100,744 SH	Aug. 8, 2026	Daily
XMMO · Invesco Exchange-Traded Fund Trust	2.02%	1,737,614 SH	Aug. 8, 2026	Daily
PTH · Invesco Exchange-Traded Fund Trust	2.01%	56,530 SH	Aug. 8, 2026	Daily
BBP · ETFis Series Trust I	1.67%	13,501 NS	April 30, 2026	N-PORT
PDP · Invesco Exchange-Traded Fund Trust	1.37%	236,149 SH	Aug. 8, 2026	Daily
LABU · Direxion Shares ETF Trust	1.18%	83,558 NS	April 30, 2026	N-PORT
HRTS · Tema ETF Trust	1.09%	7,240 NS	May 31, 2026	N-PORT
PAMC · Pacer Funds Trust	0.88%	7,520 NS	April 30, 2026	N-PORT
IBB · iShares Trust	0.88%	971,687 SH	Aug. 8, 2026	Daily
IBBQ · Invesco Exchange-Traded Fund Trust …	0.84%	7,664 SH	Aug. 8, 2026	Daily
FNY · First Trust Exchange-Traded AlphaDE…	0.78%	54,678 NS	April 30, 2026	N-PORT
JSMD · Janus Detroit Street Trust	0.71%	95,209 NS	April 30, 2026	N-PORT
FDMO · FIDELITY COVINGTON TRUST	0.67%	76,377 NS	April 30, 2026	N-PORT
IJK · iShares Trust	0.65%	824,470 SH	Aug. 8, 2026	Daily
IVOG · VANGUARD ADMIRAL FUNDS	0.60%	138,986 SH	Aug. 8, 2026	Daily
JSML · Janus Detroit Street Trust	0.58%	24,940 NS	April 30, 2026	N-PORT
ABOT · Abacus FCF ETF Trust	0.56%	335 NS	April 30, 2026	N-PORT
BIB · ProShares Trust	0.55%	5,178 NS	May 31, 2026	N-PORT
MMSC · First Trust Exchange-Traded Fund VI…	0.49%	3,305 NS	May 31, 2026	N-PORT
BBSC · J.P. Morgan Exchange-Traded Fund Tr…	0.46%	46,300 NS	April 30, 2026	N-PORT
QVMM · Invesco Exchange-Traded Fund Trust …	0.41%	20,520 SH	Aug. 8, 2026	Daily
XJH · iShares Trust	0.38%	19,017 SH	Aug. 8, 2026	Daily
IQSM · New York Life Investments ETF Trust	0.35%	15,065 NS	April 30, 2026	N-PORT
IJH · iShares Trust	0.33%	4,860,150 SH	Aug. 8, 2026	Daily
BFOR · ALPS ETF Trust	0.33%	9,046 NS	May 31, 2026	N-PORT
FNX · First Trust Exchange-Traded AlphaDE…	0.32%	58,042 NS	April 30, 2026	N-PORT
IVOO · VANGUARD ADMIRAL FUNDS	0.31%	227,611 SH	Aug. 8, 2026	Daily
RSSL · Global X Funds	0.30%	58,609 NS	April 30, 2026	N-PORT
PTMC · Pacer Funds Trust	0.30%	16,068 NS	April 30, 2026	N-PORT
VBK · VANGUARD INDEX FUNDS	0.30%	1,772,235 SH	Aug. 8, 2026	Daily
VFMO · VANGUARD WELLINGTON FUND	0.27%	67,223 SH	Aug. 8, 2026	Daily
ITWO · ProShares Trust	0.26%	6,367 NS	May 31, 2026	N-PORT
ABLS · Abacus FCF ETF Trust	0.26%	44 NS	April 30, 2026	N-PORT
MVV · ProShares Trust	0.24%	4,843 NS	May 31, 2026	N-PORT
JPSE · J.P. Morgan Exchange-Traded Fund Tr…	0.23%	18,551 NS	April 30, 2026	N-PORT
SCHA · SCHWAB STRATEGIC TRUST	0.23%	673,375 NS	May 31, 2026	N-PORT
FAD · First Trust Exchange-Traded AlphaDE…	0.23%	15,031 NS	April 30, 2026	N-PORT
FSMD · FIDELITY COVINGTON TRUST	0.22%	70,532 NS	April 30, 2026	N-PORT
BKMC · BNY Mellon ETF Trust	0.22%	18,456 NS	April 30, 2026	N-PORT
ISCG · iShares Trust	0.21%	24,448 SH	Aug. 8, 2026	Daily
IWP · iShares Trust	0.21%	490,695 SH	Aug. 8, 2026	Daily
PRFZ · Invesco Exchange-Traded Fund Trust	0.20%	67,415 SH	Aug. 8, 2026	Daily
MIDU · Direxion Shares ETF Trust	0.20%	2,319 NS	April 30, 2026	N-PORT
IYH · iShares Trust	0.19%	80,786 SH	Aug. 8, 2026	Daily
UMDD · ProShares Trust	0.17%	676 NS	May 31, 2026	N-PORT
ISCB · iShares Trust	0.16%	5,471 SH	Aug. 8, 2026	Daily
UWM · ProShares Trust	0.16%	4,980 NS	May 31, 2026	N-PORT
SMMD · iShares Trust	0.15%	67,364 SH	Aug. 8, 2026	Daily
ESML · iShares Trust	0.15%	51,472 SH	Aug. 8, 2026	Daily
FHLC · FIDELITY COVINGTON TRUST	0.15%	56,550 NS	April 30, 2026	N-PORT
GSSC · Goldman Sachs ETF Trust	0.14%	17,992 NS	May 31, 2026	N-PORT
VHT · VANGUARD WORLD FUND	0.14%	357,682 SH	Aug. 8, 2026	Daily
VXF · VANGUARD INDEX FUNDS	0.13%	1,615,938 SH	Aug. 8, 2026	Daily
VB · VANGUARD INDEX FUNDS	0.13%	3,068,726 SH	Aug. 8, 2026	Daily
ISCV · iShares Trust	0.12%	9,895 SH	Aug. 8, 2026	Daily
URTY · ProShares Trust	0.11%	5,040 NS	May 31, 2026	N-PORT
WSML · iShares Trust	0.10%	7,512 SH	Aug. 8, 2026	Daily
EQAL · Invesco Exchange-Traded Fund Trust …	0.10%	9,212 SH	Aug. 8, 2026	Daily
SMLF · iShares Trust	0.09%	45,111 SH	Aug. 8, 2026	Daily
AVIE · AMERICAN CENTURY ETF TRUST	0.09%	117 NS	May 31, 2026	N-PORT
IWR · iShares Trust	0.08%	549,960 SH	Aug. 8, 2026	Daily
AVMV · AMERICAN CENTURY ETF TRUST	0.07%	5,223 NS	May 31, 2026	N-PORT
MSSM · MORGAN STANLEY PATHWAY FUNDS	0.05%	5,214 NS	May 31, 2026	N-PORT
DFAS · Dimensional ETF Trust	0.05%	91,508 NS	April 30, 2026	N-PORT
HDG · ProShares Trust	0.05%	126 NS	May 31, 2026	N-PORT
IWS · iShares Trust	0.04%	75,254 SH	Aug. 8, 2026	Daily
IUSG · iShares Trust	0.03%	122,685 SH	Aug. 8, 2026	Daily
RWK · Invesco Exchange-Traded Fund Trust …	0.03%	4,594 SH	Aug. 8, 2026	Daily
AVLC · AMERICAN CENTURY ETF TRUST	0.03%	4,787 NS	May 31, 2026	N-PORT
DFAC · Dimensional ETF Trust	0.03%	153,772 NS	April 30, 2026	N-PORT
ONEQ · Fidelity Commonwealth Trust	0.02%	33,800 NS	May 31, 2026	N-PORT
IWF · iShares Trust	0.02%	320,535 SH	Aug. 8, 2026	Daily
TILT · FlexShares Trust	0.02%	5,570 NS	April 30, 2026	N-PORT
VONE · VANGUARD SCOTTSDALE FUNDS	0.02%	22,223 SH	Aug. 8, 2026	Daily
VONG · VANGUARD SCOTTSDALE FUNDS	0.02%	133,946 SH	Aug. 8, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.02%	11,327 SH	Aug. 8, 2026	Daily
ESGV · VANGUARD WORLD FUND	0.02%	30,534 SH	Aug. 8, 2026	Daily
ITOT · iShares Trust	0.02%	185,932 SH	Aug. 8, 2026	Daily
IWB · iShares Trust	0.02%	93,585 SH	Aug. 8, 2026	Daily
AVUS · AMERICAN CENTURY ETF TRUST	0.02%	27,205 NS	May 31, 2026	N-PORT
IWV · iShares Trust	0.02%	35,749 SH	Aug. 8, 2026	Daily
SCHB · SCHWAB STRATEGIC TRUST	0.01%	81,703 NS	May 31, 2026	N-PORT
DCOR · Dimensional ETF Trust	0.01%	5,886 NS	April 30, 2026	N-PORT
AVMC · AMERICAN CENTURY ETF TRUST	0.01%	744 NS	May 31, 2026	N-PORT
GUSA · Goldman Sachs ETF Trust II	0.01%	3,929 NS	May 31, 2026	N-PORT
IWD · iShares Trust	0.01%	111,002 SH	Aug. 8, 2026	Daily
VTI · VANGUARD INDEX FUNDS	0.01%	4,247,432 SH	Aug. 8, 2026	Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX…	0.01%	111,719 SH	Aug. 8, 2026	Daily
VONV · VANGUARD SCOTTSDALE FUNDS	0.01%	30,273 SH	Aug. 8, 2026	Daily
AVUQ · AMERICAN CENTURY ETF TRUST	0.01%	168 NS	May 31, 2026	N-PORT
DFUS · Dimensional ETF Trust	0.00%	10,624 NS	April 30, 2026	N-PORT
DFAU · Dimensional ETF Trust	0.00%	3,235 NS	April 30, 2026	N-PORT

About Arrowhead Pharmaceuticals, Inc. - Common Stock Company overview from Wikipedia

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Institutional owners (13F) 534 filers · $7.8B total · As of June 30, 2026

Company insiders 32 insiders · 16 officers · 13 directors

Activists & 5%+ owners 3 positions

ETF ownership Held by 95 ETFs