Insider Selling: Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Sells 26,712 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 26,712 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.24, for a total value of $567,362.88. Following the completion of the transaction, the chief executive officer now directly owns 3,688,335 shares in the company, valued at $78,340,235.40. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Arrowhead Pharmaceuticals Price Performance

ARWR stock opened at $19.45 on Monday. The stock’s 50 day moving average is $21.26 and its two-hundred day moving average is $23.02. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $17.05 and a 52-week high of $39.83. The company has a market capitalization of $2.42 billion, a PE ratio of -3.87 and a beta of 0.91. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Avoro Capital Advisors LLC boosted its stake in Arrowhead Pharmaceuticals by 3.9% during 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 acquiring an additional 333,333 shares during the last quarter. State Street Corp raised its stake in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Arrowhead Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after purchasing an additional 26,171 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Arrowhead Pharmaceuticals by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after purchasing an additional 30,086 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Arrowhead Pharmaceuticals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,006,935 shares of the biotechnology company’s stock valued at $19,504,000 after buying an additional 12,574 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ARWR. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Friday. Sanford C. Bernstein reduced their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Piper Sandler cut their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $42.70.

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.