Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Down 4.8% – Time to Sell?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price dropped 4.8% during mid-day trading on Tuesday . The company traded as low as $15.06 and last traded at $14.76. Approximately 63,820 shares changed hands during trading, a decline of 95% from the average daily volume of 1,262,963 shares. The stock had previously closed at $15.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ARWR shares. Chardan Capital reissued a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Piper Sandler lowered their price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. B. Riley reaffirmed a “buy” rating and set a $38.00 price objective (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. Finally, Citigroup cut their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals has an average rating of “Hold” and an average target price of $41.44.

Arrowhead Pharmaceuticals Stock Down 4.5 %

The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27. The company’s fifty day moving average price is $18.51 and its 200-day moving average price is $19.81. The stock has a market capitalization of $2.03 billion, a PE ratio of -2.87 and a beta of 0.92.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings data on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.97). Analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 32,729 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $648,688.78. Following the completion of the sale, the insider now directly owns 272,122 shares in the company, valued at $5,393,458.04. This trade represents a 10.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Richard Anzalone sold 51,425 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $15.07, for a total transaction of $774,974.75. Following the completion of the transaction, the chief executive officer now directly owns 4,062,377 shares of the company’s stock, valued at $61,220,021.39. The trade was a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 289,167 shares of company stock worth $5,106,735. 4.30% of the stock is owned by insiders.

Institutional Trading of Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ARWR. Avoro Capital Advisors LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 25.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock valued at $208,889,000 after acquiring an additional 2,222,223 shares during the last quarter. State Street Corp raised its stake in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after acquiring an additional 516,569 shares during the period. Slate Path Capital LP raised its position in Arrowhead Pharmaceuticals by 7.1% in the fourth quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company’s stock valued at $98,362,000 after purchasing an additional 347,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Arrowhead Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after buying an additional 26,171 shares during the period. Finally, Norges Bank acquired a new position in Arrowhead Pharmaceuticals during the 4th quarter worth about $38,622,000. Institutional investors and hedge funds 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.