Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone Sells 26,712 Shares

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 26,712 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.24, for a total value of $567,362.88. Following the completion of the transaction, the chief executive officer now directly owns 3,688,335 shares in the company, valued at $78,340,235.40. This trade represents a 0.72 % 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 this hyperlink.

Arrowhead Pharmaceuticals Stock Down 0.3 %

Shares of NASDAQ:ARWR opened at $19.45 on Friday. The company has a 50 day moving average of $21.23 and a 200-day moving average of $23.09. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -3.87 and a beta of 0.91. Arrowhead Pharmaceuticals, Inc. has a one year low of $17.05 and a one year high of $39.83.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ARWR shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday. Piper Sandler cut their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Arrowhead Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $42.70.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp lifted its stake in Arrowhead Pharmaceuticals by 42.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,186 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 354 shares in the last quarter. Values First Advisors Inc. bought a new stake in Arrowhead Pharmaceuticals in the 3rd quarter valued at $52,000. Meeder Asset Management Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 4,629.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company’s stock worth $88,000 after buying an additional 3,333 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 valued at $88,000 after purchasing an additional 788 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Arrowhead Pharmaceuticals during the 2nd quarter worth $96,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.