Adeoye Y. Olukotun Sells 959 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Director Adeoye Y. Olukotun sold 959 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $21.00, for a total value of $20,139.00. Following the transaction, the director now directly owns 35,781 shares of the company’s stock, valued at approximately $751,401. This trade represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR opened at $20.03 on Wednesday. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $17.05 and a 52-week high of $36.72. The company has a fifty day moving average of $20.79 and a 200-day moving average of $21.87. The company has a market capitalization of $2.49 billion, a P/E ratio of -3.99 and a beta of 0.97. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74.

Analyst Ratings Changes

A number of brokerages have issued reports on ARWR. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Piper Sandler lowered their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Citigroup reduced 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. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, January 23rd. Finally, Sanford C. Bernstein reduced their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.33.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. World Investment Advisors LLC increased its position in shares of Arrowhead Pharmaceuticals by 3.8% during the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Arrowhead Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after buying an additional 788 shares in the last quarter. Wellington Management Group LLP grew its position in Arrowhead Pharmaceuticals by 1.5% during the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after acquiring an additional 886 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Arrowhead Pharmaceuticals by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock worth $279,000 after acquiring an additional 980 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Arrowhead Pharmaceuticals by 5.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,262 shares of the biotechnology company’s stock worth $586,000 after acquiring an additional 1,523 shares during the last quarter. Institutional investors 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.