Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading Down 4.4% – Here’s What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares traded down 4.4% during mid-day trading on Friday . The company traded as low as $20.77 and last traded at $20.57. 1,723,451 shares were traded during mid-day trading, an increase of 4% from the average session volume of 1,656,337 shares. The stock had previously closed at $21.53.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ARWR. Sanford C. Bernstein reduced their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday, November 29th. Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. Piper Sandler dropped 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. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Thursday. Finally, Citigroup lowered their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Stock Performance

The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. The firm has a fifty day simple moving average of $20.73 and a 200 day simple moving average of $22.01.

Insider Buying and Selling

In other news, insider James C. Hamilton sold 32,729 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $648,688.78. Following the completion of the transaction, the insider now directly owns 272,122 shares in the company, valued at $5,393,458.04. This represents a 10.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Richard Anzalone sold 26,712 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.24, for a total transaction of $567,362.88. Following the completion of the sale, the chief executive officer now directly owns 3,688,335 shares in the company, valued at approximately $78,340,235.40. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,473 shares of company stock worth $2,937,847 in the last quarter. Insiders own 4.50% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. abrdn plc raised its stake in Arrowhead Pharmaceuticals by 12.2% during the fourth quarter. abrdn plc now owns 450,075 shares of the biotechnology company’s stock worth $8,461,000 after buying an additional 48,929 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Arrowhead Pharmaceuticals by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,385 shares of the biotechnology company’s stock worth $496,000 after purchasing an additional 2,475 shares during the last quarter. R Squared Ltd purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter worth about $38,000. Pacer Advisors Inc. boosted its stake in Arrowhead Pharmaceuticals by 11.6% in the fourth quarter. Pacer Advisors Inc. now owns 27,918 shares of the biotechnology company’s stock valued at $525,000 after acquiring an additional 2,907 shares during the last quarter. Finally, KBC Group NV boosted its stake in Arrowhead Pharmaceuticals by 45.9% in the fourth quarter. KBC Group NV now owns 5,224 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 1,644 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.