Insider Selling: Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CFO Sells $538,721.61 in Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CFO Kenneth Allen Myszkowski sold 27,167 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.83, for a total transaction of $538,721.61. Following the completion of the transaction, the chief financial officer now owns 473,433 shares of the company’s stock, valued at $9,388,176.39. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $19.75 on Friday. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $17.05 and a 12 month high of $39.83. The company has a fifty day moving average price of $21.05 and a two-hundred day moving average price of $22.53. The company has a market cap of $2.46 billion, a PE ratio of -3.93 and a beta of 0.97.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ARWR shares. Piper Sandler decreased their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Friday, December 20th. Sanford C. Bernstein cut their target price on 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. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Finally, Citigroup dropped 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ARWR. State Street Corp lifted its holdings in Arrowhead Pharmaceuticals by 8.8% in the third 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 2nd quarter worth approximately $9,976,000. Avoro Capital Advisors LLC boosted its position in Arrowhead Pharmaceuticals by 3.9% during the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after purchasing an additional 333,333 shares during the period. Assenagon Asset Management S.A. grew its stake in Arrowhead Pharmaceuticals by 232.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after buying an additional 204,933 shares during the last quarter. Finally, Millennium Management LLC increased its position in Arrowhead Pharmaceuticals by 61.9% in the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after buying an additional 202,280 shares during the period. 62.61% of the stock is owned by institutional investors and hedge funds.

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.