Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 5% – Here’s What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) fell 5% during trading 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.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ARWR. Citigroup cut their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. 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 note on Wednesday, November 27th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Sanford C. Bernstein reduced their target price on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Trading Down 4.0 %

The stock has a market capitalization of $2.27 billion, a P/E ratio of -3.61 and a beta of 0.95. The stock’s 50 day moving average price is $20.23 and its 200-day moving average price is $21.25. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06.

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

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the completion of the sale, the director now directly owns 44,125 shares in the company, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Richard Anzalone sold 11,520 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $19.05, for a total value of $219,456.00. Following the sale, the chief executive officer now owns 3,764,252 shares in the company, 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 worth $2,957,986. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth $38,000. Values First Advisors Inc. purchased a new position in Arrowhead Pharmaceuticals in the 3rd quarter worth $52,000. Van ECK Associates Corp lifted its position in Arrowhead Pharmaceuticals by 72.3% during the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 1,250 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Arrowhead Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 788 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Arrowhead Pharmaceuticals by 45.9% in the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 1,644 shares during the period. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.