Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Sells $57,000.00 in Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Adeoye Y. Olukotun sold 2,850 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $20.00, for a total value of $57,000.00. Following the completion of the transaction, the director now directly owns 36,740 shares of the company’s stock, valued at approximately $734,800. This trade represents a 7.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR opened at $18.80 on Thursday. The business has a 50-day simple moving average of $21.07 and a two-hundred day simple moving average of $22.71. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $17.05 and a 12-month high of $39.83. The stock has a market cap of $2.34 billion, a PE ratio of -3.75 and a beta of 0.91. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup dropped 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 report on Wednesday, November 27th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. 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. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its holdings in Arrowhead Pharmaceuticals by 8.8% during the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after acquiring an additional 516,569 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the second quarter worth $9,976,000. Avoro Capital Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after purchasing an additional 333,333 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Arrowhead Pharmaceuticals by 232.5% in the third quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock valued at $5,677,000 after purchasing an additional 204,933 shares during the period. Finally, Millennium Management LLC raised its position in Arrowhead Pharmaceuticals by 61.9% during the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after purchasing an additional 202,280 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.