Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 5% – Should You Sell?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) fell 5% on Wednesday . The company traded as low as $17.69 and last traded at $17.94. 311,345 shares were traded during mid-day trading, a decline of 86% from the average session volume of 2,295,320 shares. The stock had previously closed at $18.89.

Analysts Set New Price Targets

Several research firms have weighed in on ARWR. Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Citigroup cut their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Sanford C. Bernstein lowered their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Finally, Piper Sandler cut 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Price Performance

The company has a market cap of $2.27 billion, a PE ratio of -3.61 and a beta of 0.95. The business has a 50 day moving average of $20.23 and a 200 day moving average of $21.25. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.97). As a group, research analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3.4 EPS for the current year.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 3,748 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $21.90, for a total transaction 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. This represents a 7.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Richard Anzalone sold 11,520 shares of Arrowhead Pharmaceuticals stock in a transaction on 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 directly owns 3,764,252 shares of the company’s stock, valued at $71,709,000.60. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,432 shares of company stock valued at $2,957,986. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth approximately $38,622,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Arrowhead Pharmaceuticals by 23.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,281 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 2,556 shares during the last quarter. EntryPoint Capital LLC bought a new position in Arrowhead Pharmaceuticals in the fourth quarter worth approximately $233,000. KLP Kapitalforvaltning AS purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $434,000. Finally, Virtu Financial LLC purchased a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $381,000. 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.