Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 2.5% on Insider Selling

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price was down 2.5% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $19.27 and last traded at $19.30. Approximately 89,235 shares changed hands 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 Arrowhead Pharmaceuticals stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $19.05, for a total value of $219,456.00. Following the completion of the transaction, the chief executive officer now owns 3,764,252 shares in the company, valued at approximately $71,709,000.60. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ARWR shares. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Friday, December 20th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Citigroup cut their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Piper Sandler lowered 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. Finally, Sanford C. Bernstein cut 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $43.33.

Arrowhead Pharmaceuticals Price Performance

The company has a market cap of $2.46 billion, a PE ratio of -3.93 and a beta of 0.97. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The firm has a 50 day simple moving average of $21.03 and a 200-day simple moving average of $22.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ARWR. World Investment Advisors LLC boosted its stake 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 valued at $371,000 after acquiring an additional 700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arrowhead Pharmaceuticals by 21.3% during the 3rd 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 during the last quarter. Arizona State Retirement System boosted its position in shares of Arrowhead Pharmaceuticals by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after purchasing an additional 821 shares in the last quarter. Wellington Management Group LLP grew its stake in Arrowhead Pharmaceuticals by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after buying an additional 886 shares during the last quarter. Finally, State of Alaska Department of Revenue increased 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 buying an additional 980 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.