Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Sells $20,139.00 in Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Adeoye Y. Olukotun sold 959 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $21.00, for a total value of $20,139.00. Following the completion of the sale, the director now directly owns 35,781 shares of the company’s stock, valued at approximately $751,401. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $20.03 on Wednesday. The company has a 50-day simple moving average of $20.79 and a two-hundred day simple moving average of $21.87. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The firm has a market capitalization of $2.49 billion, a PE ratio of -3.99 and a beta of 0.97. Arrowhead Pharmaceuticals, Inc. has a one year low of $17.05 and a one year high of $36.72.

Analysts Set New Price Targets

Several analysts have weighed in on ARWR shares. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, January 23rd. Citigroup lowered their price target 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. Chardan Capital reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Sanford C. Bernstein decreased 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 research report on Friday, November 29th. Finally, Piper Sandler dropped their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.33.

Institutional Inflows and Outflows

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