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

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price fell 2.5% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $19.27 and last traded at $19.30. 89,235 shares traded 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 business’s 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 transaction, the chief executive officer now owns 3,764,252 shares of the company’s stock, valued at approximately $71,709,000.60. The trade was a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several analysts recently commented on ARWR shares. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Friday, December 20th. Piper Sandler cut their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Finally, Citigroup cut their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.33.

Arrowhead Pharmaceuticals Stock Performance

The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The business has a 50 day moving average price of $21.03 and a two-hundred day moving average price of $22.56. The stock has a market cap of $2.46 billion, a P/E ratio of -3.93 and a beta of 0.97.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after acquiring an additional 516,569 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $9,976,000. Avoro Capital Advisors LLC grew its position in shares of Arrowhead Pharmaceuticals by 3.9% during the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after purchasing an additional 333,333 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Arrowhead Pharmaceuticals by 232.5% in the third quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after purchasing an additional 204,933 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Arrowhead Pharmaceuticals by 61.9% in the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after buying an additional 202,280 shares in the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.