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 the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $21.24, for a total value of $567,362.88. Following the sale, the chief executive officer now owns 3,688,335 shares of the company’s stock, valued at $78,340,235.40. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR traded down $0.05 during midday trading on Friday, hitting $19.45. 4,010,988 shares of the stock were exchanged, compared to its average volume of 1,283,558. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $17.05 and a twelve month high of $39.83. 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 company has a 50 day moving average price of $21.23 and a 200-day moving average price of $23.09. The stock has a market cap of $2.42 billion, a P/E ratio of -3.87 and a beta of 0.91.

Analysts Set New Price Targets

Several equities analysts have issued reports on ARWR shares. Citigroup dropped their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday. Piper Sandler dropped their target price 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, Chardan Capital reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

Institutional Trading of Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ARWR. Fifth Third Bancorp increased its stake in shares of Arrowhead Pharmaceuticals by 42.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 354 shares in the last quarter. Values First Advisors Inc. purchased a new position in Arrowhead Pharmaceuticals during the third quarter worth $52,000. Meeder Asset Management Inc. raised its holdings in shares of Arrowhead Pharmaceuticals by 4,629.2% in the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 3,333 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth $96,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Arrowhead Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 788 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.