Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 2.5% After Insider Selling

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s share price was down 2.5% on Monday after an insider sold shares in the company. The stock traded as low as $19.27 and last traded at $19.30. Approximately 89,235 shares were traded during trading, a decline of 89% from the average daily volume of 781,728 shares. The stock had previously closed at $19.79.

Specifically, CEO Christopher Richard Anzalone sold 11,520 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total transaction of $219,456.00. Following the transaction, the chief executive officer now owns 3,764,252 shares in the company, valued at approximately $71,709,000.60. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ARWR shares. Chardan Capital reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Friday, December 20th. Citigroup reduced their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Finally, Sanford C. Bernstein reduced their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Trading Up 0.4 %

The stock’s fifty day moving average is $21.03 and its 200 day moving average is $22.56. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The stock has a market cap of $2.46 billion, a P/E ratio of -3.93 and a beta of 0.97.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Values First Advisors Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals in the third quarter valued at $52,000. Meeder Asset Management Inc. grew its holdings in Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 3,333 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Arrowhead Pharmaceuticals by 21.3% in 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. Quantbot Technologies LP bought a new stake in Arrowhead Pharmaceuticals in the third quarter worth about $149,000. Finally, Quarry LP boosted its position in shares of Arrowhead Pharmaceuticals by 54.5% during the second quarter. Quarry LP now owns 8,500 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 3,000 shares during the period. 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.