Insider Selling: Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Sells 959 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Adeoye Y. Olukotun sold 959 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $21.00, for a total transaction of $20,139.00. Following the sale, the director now directly owns 35,781 shares of the company’s stock, valued at approximately $751,401. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Arrowhead Pharmaceuticals Stock Down 2.5 %

ARWR traded down $0.51 on Monday, reaching $20.25. 1,664,923 shares of the company traded hands, compared to its average volume of 3,037,326. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $17.05 and a 52-week high of $36.72. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -4.03 and a beta of 0.97. The stock’s 50 day moving average price is $20.76 and its 200-day moving average price is $21.92.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ARWR shares. Piper Sandler cut their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. Sanford C. Bernstein cut their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.33.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position 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 purchasing an additional 516,569 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $9,976,000. Assenagon Asset Management S.A. lifted its holdings in shares of Arrowhead Pharmaceuticals by 232.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock valued at $5,677,000 after buying an additional 204,933 shares during the last quarter. Millennium Management LLC grew its stake in shares of Arrowhead Pharmaceuticals by 61.9% in the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after buying an additional 202,280 shares in the last quarter. Finally, abrdn plc increased its holdings in Arrowhead Pharmaceuticals by 61.3% in the third quarter. abrdn plc now owns 401,146 shares of the biotechnology company’s stock worth $7,770,000 after buying an additional 152,476 shares during the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

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.