Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 7.6% Following Insider Selling

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) fell 7.6% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $59.51 and last traded at $63.2350. 1,372,435 shares traded hands during trading, a decline of 36% from the average session volume of 2,144,635 shares. The stock had previously closed at $68.45.

Specifically, CEO Christopher Richard Anzalone sold 54,298 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $62.58, for a total transaction of $3,397,968.84. Following the sale, the chief executive officer directly owned 3,916,957 shares in the company, valued at $245,123,169.06. This trade represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Richard Anzalone sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $68.85, for a total value of $8,950,500.00. Following the completion of the sale, the chief executive officer owned 3,971,255 shares of the company’s stock, valued at approximately $273,420,906.75. This represents a 3.17% decrease in their position. The SEC filing for this sale provides additional information.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their target price on shares of Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 20th. HC Wainwright raised their price target on Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Finally, Chardan Capital reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $61.89.

Arrowhead Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86. The company has a 50-day simple moving average of $47.82 and a 200-day simple moving average of $30.75. The stock has a market cap of $9.03 billion, a PE ratio of -830.77 and a beta of 1.28.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. iSAM Funds UK Ltd acquired a new position in Arrowhead Pharmaceuticals during the third quarter worth $29,000. Salomon & Ludwin LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at $34,000. Federated Hermes Inc. purchased a new position in shares of Arrowhead Pharmaceuticals in the third quarter valued at $52,000. Smartleaf Asset Management LLC raised its stake in shares of Arrowhead Pharmaceuticals by 2,186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,692 shares of the biotechnology company’s stock worth $57,000 after buying an additional 1,618 shares during the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the 2nd quarter worth about $34,000. 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.