Insider Selling: Arrowhead Pharmaceuticals (NASDAQ:ARWR) CEO Sells 12,586 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 12,586 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $68.44, for a total transaction of $861,385.84. Following the completion of the sale, the chief executive officer directly owned 3,805,926 shares of the company’s stock, valued at approximately $260,477,575.44. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Christopher Richard Anzalone also recently made the following trade(s):

• On Friday, December 19th, Christopher Richard Anzalone sold 13,445 shares of Arrowhead Pharmaceuticals stock. The shares were sold at an average price of $67.66, for a total value of $909,688.70.
• On Wednesday, December 17th, Christopher Richard Anzalone sold 85,000 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $64.04, for a total transaction of $5,443,400.00.
• On Tuesday, December 16th, Christopher Richard Anzalone sold 54,298 shares of Arrowhead Pharmaceuticals stock. The shares were sold at an average price of $62.58, for a total value of $3,397,968.84.
• On Monday, December 15th, Christopher Richard Anzalone sold 130,000 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $68.85, for a total value of $8,950,500.00.

Arrowhead Pharmaceuticals Trading Up 1.2%

Arrowhead Pharmaceuticals stock traded up $0.83 during midday trading on Tuesday, reaching $69.83. The stock had a trading volume of 1,157,383 shares, compared to its average volume of 2,158,861. The firm’s fifty day simple moving average is $49.13 and its two-hundred day simple moving average is $31.68. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $9.57 and a twelve month high of $72.36. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of -872.77 and a beta of 1.28.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Large investors have recently modified their holdings of the stock. Cantor Fitzgerald L. P. grew its position in Arrowhead Pharmaceuticals by 14.7% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 19,500 shares of the biotechnology company’s stock worth $673,000 after acquiring an additional 2,500 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Arrowhead Pharmaceuticals in the third quarter worth $444,000. Keystone Financial Group bought a new stake in shares of Arrowhead Pharmaceuticals during the third quarter worth $276,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Arrowhead Pharmaceuticals by 11.7% in the third quarter. CANADA LIFE ASSURANCE Co now owns 129,958 shares of the biotechnology company’s stock valued at $4,389,000 after buying an additional 13,653 shares in the last quarter. Finally, Woodline Partners LP raised its holdings in shares of Arrowhead Pharmaceuticals by 34.0% in the third quarter. Woodline Partners LP now owns 1,000,158 shares of the biotechnology company’s stock valued at $34,495,000 after buying an additional 254,002 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on ARWR shares. Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, December 1st. Royal Bank Of Canada raised their target price on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. Bank of America boosted their price target on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Piper Sandler increased their price objective on Arrowhead Pharmaceuticals from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Finally, Morgan Stanley boosted their target price on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $61.89.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.