Short Interest in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Grows By 6.6%

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 10,070,000 shares, an increase of 6.6% from the November 15th total of 9,450,000 shares. Based on an average trading volume of 1,390,000 shares, the days-to-cover ratio is presently 7.2 days.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR traded down $0.29 on Friday, hitting $21.85. 1,094,291 shares of the company’s stock traded hands, compared to its average volume of 1,271,931. The firm’s 50-day moving average price is $20.98 and its two-hundred day moving average price is $23.14. The firm has a market capitalization of $2.72 billion, a PE ratio of -4.35 and a beta of 0.91. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $39.83.

Analysts Set New Price Targets

ARWR has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. HC Wainwright increased their price target on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Piper Sandler decreased their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Finally, StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.70.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in Arrowhead Pharmaceuticals by 8.8% during the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after purchasing an additional 516,569 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Arrowhead Pharmaceuticals during the 2nd quarter valued at about $9,976,000. Avoro Capital Advisors LLC increased its stake in shares of Arrowhead Pharmaceuticals by 3.9% in the 2nd 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 Arrowhead Pharmaceuticals by 232.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after acquiring an additional 204,933 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Arrowhead Pharmaceuticals by 61.9% during the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after purchasing an additional 202,280 shares during the last quarter. 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.