Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 3.9% – Time to Sell?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares were down 3.9% on Tuesday . The stock traded as low as $66.78 and last traded at $66.8950. Approximately 253,974 shares were traded during trading, a decline of 88% from the average daily volume of 2,134,357 shares. The stock had previously closed at $69.62.

Wall Street Analysts Forecast Growth

ARWR has been the subject of several recent analyst reports. Chardan Capital restated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, December 1st. Bank of America increased their price target 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. Morgan Stanley lifted their price objective on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. HC Wainwright boosted their target price on Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Finally, The Goldman Sachs Group raised their price target on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 20th. Two equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $61.89.

Arrowhead Pharmaceuticals Trading Down 4.3%

The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of -831.82 and a beta of 1.28. The business has a 50 day simple moving average of $52.38 and a 200-day simple moving average of $33.56.

Insiders Place Their Bets

In other news, CEO Christopher Richard Anzalone sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $68.85, for a total transaction of $8,950,500.00. Following the completion of the transaction, the chief executive officer directly owned 3,971,255 shares of the company’s stock, valued at approximately $273,420,906.75. This represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael S. Perry sold 16,250 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $61.03, for a total transaction of $991,737.50. Following the completion of the sale, the director directly owned 115,240 shares in the company, valued at approximately $7,033,097.20. This trade represents a 12.36% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 368,736 shares of company stock worth $23,670,228. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARWR. PNC Financial Services Group Inc. increased its holdings in shares of Arrowhead Pharmaceuticals by 3.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,924 shares of the biotechnology company’s stock valued at $377,000 after purchasing an additional 326 shares during the period. State of Wyoming grew its position in Arrowhead Pharmaceuticals by 5.6% during the third quarter. State of Wyoming now owns 9,519 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 504 shares in the last quarter. Arizona State Retirement System grew its position in Arrowhead Pharmaceuticals by 1.9% during the third quarter. Arizona State Retirement System now owns 32,661 shares of the biotechnology company’s stock valued at $1,126,000 after purchasing an additional 620 shares in the last quarter. CWM LLC increased its stake in Arrowhead Pharmaceuticals by 6.7% in the 3rd quarter. CWM LLC now owns 12,179 shares of the biotechnology company’s stock valued at $420,000 after buying an additional 764 shares during the period. Finally, iSAM Funds UK Ltd purchased a new stake in Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $29,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Arrowhead Pharmaceuticals Company Profile

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.