Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 2.5% on Insider Selling

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price traded down 2.5% on Monday following insider selling activity. The stock traded as low as $19.27 and last traded at $19.30. 89,235 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 781,728 shares. The stock had previously closed at $19.79.

Specifically, CEO Christopher Richard Anzalone sold 11,520 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $19.05, for a total value of $219,456.00. Following the completion of the sale, the chief executive officer now owns 3,764,252 shares of the company’s stock, valued at approximately $71,709,000.60. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Friday, December 20th. Citigroup lowered their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Finally, Piper Sandler lowered their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Price Performance

The stock has a market cap of $2.46 billion, a PE ratio of -3.93 and a beta of 0.97. The business’s 50-day simple moving average is $21.03 and its 200-day simple moving average is $22.56. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. World Investment Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 3.8% in the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after acquiring an additional 700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Arrowhead Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after buying an additional 788 shares in the last quarter. Arizona State Retirement System lifted its holdings in Arrowhead Pharmaceuticals by 2.4% in the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after buying an additional 821 shares during the period. Wellington Management Group LLP boosted its position in Arrowhead Pharmaceuticals by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after acquiring an additional 886 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Arrowhead Pharmaceuticals by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 980 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.