Arrowhead Pharmaceuticals (NASDAQ:ARWR) CEO Christopher Richard Anzalone Sells 130,000 Shares

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 130,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was 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 $273,420,906.75. This represents a 3.17% 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 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.

Arrowhead Pharmaceuticals Stock Down 5.5%

NASDAQ:ARWR opened at $64.66 on Wednesday. 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 1-year low of $9.57 and a 1-year high of $72.36. The company has a 50-day moving average of $46.66 and a 200 day moving average of $30.26. The firm has a market cap of $8.79 billion, a PE ratio of -808.15 and a beta of 1.28.

Wall Street Analysts Forecast Growth

ARWR has been the subject of several recent research reports. 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. Royal Bank Of Canada increased their price target on shares of Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. HC Wainwright lifted their price objective on shares of Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Morgan Stanley increased their target price on shares of Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.56.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Arrowhead Pharmaceuticals by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock valued at $553,077,000 after purchasing an additional 510,798 shares during the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 2.8% in the third quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock worth $375,941,000 after buying an additional 300,000 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 138.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company’s stock worth $60,962,000 after buying an additional 2,774,933 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 1.0% during the second quarter. Geode Capital Management LLC now owns 2,978,505 shares of the biotechnology company’s stock worth $47,067,000 after buying an additional 28,193 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 0.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,528,982 shares of the biotechnology company’s stock valued at $32,220,000 after buying an additional 21,686 shares during the last quarter. 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.