Insider Selling: Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Sells 2,850 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Adeoye Y. Olukotun sold 2,850 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $20.00, for a total transaction of $57,000.00. Following the completion of the sale, the director now directly owns 36,740 shares in the company, valued at approximately $734,800. This represents a 7.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Arrowhead Pharmaceuticals Stock Up 1.0 %

Arrowhead Pharmaceuticals stock opened at $18.80 on Thursday. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -3.75 and a beta of 0.91. The firm’s fifty day moving average price is $21.07 and its two-hundred day moving average price is $22.71. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $17.05 and a 1-year high of $39.83. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Values First Advisors Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals in the third quarter worth approximately $52,000. Meeder Asset Management Inc. grew its holdings in Arrowhead Pharmaceuticals by 4,629.2% during the second quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after buying an additional 3,333 shares in the last quarter. nVerses Capital LLC purchased a new stake in Arrowhead Pharmaceuticals in the 2nd quarter valued at $96,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 acquiring an additional 788 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Arrowhead Pharmaceuticals during the 3rd quarter worth $149,000. Institutional investors own 62.61% of the company’s stock.

Wall Street Analyst Weigh In

ARWR has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Chardan Capital reissued a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. Finally, Citigroup lowered their price objective 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.70.

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.