Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Sells $567,362.88 in Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 26,712 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 3,688,335 shares of the company’s stock, valued at approximately $78,340,235.40. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ ARWR opened at $19.45 on Friday. The company has a 50 day simple moving average of $21.26 and a two-hundred day simple moving average of $23.05. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -3.87 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, Inc. has a 12 month low of $17.05 and a 12 month high of $39.83.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. 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 note on Wednesday, November 27th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday. Sanford C. Bernstein cut their price objective 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. Citigroup lowered their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Friday. One equities 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 data from MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $42.70.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised 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 valued at $31,000 after buying an additional 354 shares during the last quarter. Values First Advisors Inc. purchased a new position in Arrowhead Pharmaceuticals during the third quarter valued at approximately $52,000. Meeder Asset Management Inc. lifted its holdings in 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 valued at $88,000 after acquiring an additional 3,333 shares during the period. nVerses Capital LLC purchased a new stake in Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $96,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 worth $88,000 after purchasing an additional 788 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.