Insider Selling: Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Sells 3,748 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director William D. Waddill sold 3,748 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the transaction, the director now directly owns 44,125 shares of the company’s stock, valued at $966,337.50. The trade was a 7.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Arrowhead Pharmaceuticals Stock Down 4.2 %

Shares of NASDAQ:ARWR opened at $19.50 on Friday. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $17.05 and a 12-month high of $39.83. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. The stock’s 50-day moving average price is $21.23 and its 200-day moving average price is $23.09. The stock has a market capitalization of $2.43 billion, a P/E ratio of -3.88 and a beta of 0.91.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its position in Arrowhead Pharmaceuticals by 42.5% in the second quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 354 shares during the last quarter. Values First Advisors Inc. bought a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at $52,000. Meeder Asset Management Inc. boosted its position in Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after buying an additional 3,333 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Arrowhead Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 788 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the second quarter valued at about $96,000. 62.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler dropped their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. HC Wainwright lifted their price objective on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Sanford C. Bernstein cut their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.70.

About Arrowhead Pharmaceuticals

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.