Insider Selling: Arrowhead Pharmaceuticals (NASDAQ:ARWR) Director Sells 10,000 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Adeoye Olukotun sold 10,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, December 19th. The shares were sold at an average price of $67.66, for a total value of $676,600.00. Following the transaction, the director owned 33,600 shares in the company, valued at approximately $2,273,376. This trade represents a 22.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock traded up $0.83 during trading on Tuesday, hitting $69.83. The stock had a trading volume of 1,157,383 shares, compared to its average volume of 2,158,861. The business has a fifty day moving average of $49.13 and a two-hundred day moving average of $31.68. Arrowhead Pharmaceuticals, Inc. has a fifty-two week low of $9.57 and a fifty-two week high of $72.36. The firm has a market cap of $9.49 billion, a P/E ratio of -872.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86.

Analyst Ratings Changes

ARWR has been the topic of a number of research reports. Bank of America boosted their target price on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their target price on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Piper Sandler boosted their target price on Arrowhead Pharmaceuticals from $70.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley increased their price target on 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 research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.89.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently made changes to their positions in ARWR. Marex Group plc bought a new stake in Arrowhead Pharmaceuticals in the second quarter worth approximately $576,000. Marshall Wace LLP grew its position in shares of Arrowhead Pharmaceuticals by 3,507.8% in the second quarter. Marshall Wace LLP now owns 2,155,998 shares of the biotechnology company’s stock valued at $34,065,000 after purchasing an additional 2,096,238 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth about $213,000. Norges Bank acquired a new position in Arrowhead Pharmaceuticals during the 2nd quarter valued at $30,414,000. Finally, CWM LLC grew its position in Arrowhead Pharmaceuticals by 159.4% during the second quarter. CWM LLC now owns 11,415 shares of the biotechnology company’s stock worth $180,000 after buying an additional 7,014 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.