Arrowhead’s Ascent & Privium’s Prudence

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One gathers Privium Fund Management has decided to take a little profit off the table with Arrowhead Pharmaceuticals. A modest trimming of 75,747 shares – valued at approximately $3.71 million, if one bothers with such precise calculations – reported in a recent filing. Really, the sheer vulgarity of attaching numbers to these things. Still, one must be practical, mustn’t one?

A Spot of Financial Housekeeping

Privium, it seems, reduced its stake in Arrowhead during the final quarter. However, and this is the amusing bit, the overall value of their remaining holding actually increased by a rather startling $10.09 million. A delightful paradox, wouldn’t you agree? The market, it appears, has been rather enthusiastic about Arrowhead’s prospects. One suspects a good deal of champagne flowed in certain boardrooms.

Following this… adjustment, Arrowhead now constitutes 4.87% of Privium’s U.S. equity portfolio. A perfectly respectable percentage, though one wonders if the portfolio manager is terribly fond of the company. One always suspects a touch of personal animosity lurks beneath these financial decisions.

As of the last accounting, Privium’s favoured children are as follows: Tesla ($102.76 million – predictable), Shopify ($66.00 million – terribly fashionable), SPOT ($39.49 million – one assumes something to do with satellites), Palantir ($35.55 million – rather mysterious), and Amazon ($27.93 million – utterly ubiquitous).

Arrowhead’s share price, as of February 2nd, had reached a rather dizzying $73.00 – a 289.5% leap over the previous year. The S&P 500, poor thing, managed a mere 15%. One feels almost sorry for it. Almost.

The Company Itself

Metric Value
Revenue (TTM) $829.45 million
Net Income (TTM) ($1.6 million)
Market Capitalization $10.22 billion
Price (as of 2/2/26) $73.00

Arrowhead, for those unfamiliar, is a biotechnology firm dabbling in RNA interference therapeutics. They’re targeting liver disorders, hypertriglyceridemia, and other frightfully complicated ailments. Essentially, they’re attempting to fix things at a molecular level. One trusts they have a very good insurance policy.

They generate revenue through development, licensing, and collaborations. The usual sort of thing. They serve pharmaceutical companies and healthcare providers, mostly in the United States. One imagines a great deal of paperwork is involved.

A Modicum of Sense, Perhaps?

Arrowhead has, rather remarkably, crossed a threshold few clinical-stage biotechs achieve. The FDA approved REDEMPLO, their first commercial drug, in November. A triumph, naturally, though one suspects the marketing department is already exhausted. Fiscal 2025 revenue surged to $829 million (from a paltry $3.6 million the year before), and operating income swung to a profit of $98 million. Quite a turnaround, wouldn’t you say?

The stock, predictably, responded with enthusiasm, climbing nearly 60% since the earnings release. Against that backdrop, Privium’s trimming of their stake – while maintaining a substantial holding – appears less like a vote of no confidence and more like a prudent exercise in risk management. They already favour rather exuberant investments like Tesla and Shopify. A little caution, it seems, isn’t amiss.

For long-term investors, the signal is clear: confidence tempered with discipline. A perfectly sensible approach, really. One rarely goes wrong with a little bit of both.

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2026-02-03 17:16