Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 4.4% – Here’s What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price traded down 4.4% during trading on Friday . The company traded as low as $20.77 and last traded at $20.57. 1,723,451 shares changed hands during mid-day trading, an increase of 4% from the average session volume of 1,656,337 shares. The stock had previously closed at $21.53.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ARWR. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Citigroup decreased their price target 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. Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. Sanford C. Bernstein dropped their price target 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. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Trading Down 3.6 %

The business’s 50-day moving average is $20.73 and its two-hundred day moving average is $22.01. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74.

Insiders Place Their Bets

In other news, Director William D. Waddill sold 3,748 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $21.90, for a total value of $82,081.20. Following the sale, the director now directly owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. The trade was a 7.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Richard Anzalone sold 11,520 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $19.05, for a total transaction of $219,456.00. Following the completion of the transaction, the chief executive officer now owns 3,764,252 shares of the company’s stock, valued at $71,709,000.60. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,473 shares of company stock valued at $2,937,847 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. World Investment Advisors LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 3.8% in the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 purchasing an additional 788 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Arrowhead Pharmaceuticals by 1.5% in the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after purchasing an additional 886 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Arrowhead Pharmaceuticals by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock worth $279,000 after acquiring an additional 980 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Arrowhead Pharmaceuticals by 5.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,262 shares of the biotechnology company’s stock worth $586,000 after acquiring an additional 1,523 shares in the last quarter. Institutional investors and hedge funds 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.