Johnson & Johnson’s restated fourth-quarter holdings report, filed last week, reveals that the company exited three biotechs while retaining its stakes in several rumored acquisition targets. The changes included the sale of 247,598 shares in Arrowhead Pharmaceuticals previously a partner of Johnson & Johnson’s Janssen unit, which rebranded as its Innovative Medicine division. Johnson & Johnson also exited BiomX another former collaborator, through the sale of 96,866 shares.