Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Sees Large Increase in Short Interest

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) saw a significant increase in short interest in 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 daily trading volume, of 1,390,000 shares, the short-interest ratio is presently 7.2 days.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its holdings in Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 354 shares during the period. Values First Advisors Inc. purchased a new stake in Arrowhead Pharmaceuticals in the third quarter valued at approximately $52,000. Meeder Asset Management Inc. increased its position in Arrowhead Pharmaceuticals by 4,629.2% during the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 3,333 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 788 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Arrowhead Pharmaceuticals during the second quarter worth approximately $96,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ARWR. HC Wainwright raised their price objective on Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a research report 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 report on Thursday, September 26th. Chardan Capital restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Finally, Citigroup reduced their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.70.

Arrowhead Pharmaceuticals Trading Up 0.2 %

Shares of Arrowhead Pharmaceuticals stock traded up $0.05 during trading hours on Tuesday, reaching $22.42. 37,315 shares of the company’s stock were exchanged, compared to its average volume of 1,266,108. Arrowhead Pharmaceuticals has a 52-week low of $17.05 and a 52-week high of $39.83. The company has a fifty day moving average of $21.06 and a 200-day moving average of $23.14. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -4.46 and a beta of 0.91.

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.