Arrowhead Pharmaceuticals (NASDAQ:ARWR) CEO Christopher Richard Anzalone Sells 54,298 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 54,298 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $62.58, for a total value of $3,397,968.84. Following the transaction, the chief executive officer owned 3,916,957 shares of the company’s stock, valued at $245,123,169.06. The trade was a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Christopher Richard Anzalone also recently made the following trade(s):

• On Monday, December 15th, Christopher Richard Anzalone sold 130,000 shares of Arrowhead Pharmaceuticals stock. The shares were sold at an average price of $68.85, for a total value of $8,950,500.00.

Arrowhead Pharmaceuticals Stock Down 8.4%

ARWR stock traded down $5.73 during midday trading on Tuesday, hitting $62.72. The company’s stock had a trading volume of 2,308,546 shares, compared to its average volume of 2,149,090. The firm’s 50-day moving average is $46.10 and its 200-day moving average is $29.92. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.43. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $9.57 and a 12 month high of $72.36. The company has a market cap of $8.52 billion, a PE ratio of -784.85 and a beta of 1.28.

Analyst Ratings Changes

Several research firms recently commented on ARWR. Bank of America increased their price objective on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Morgan Stanley lifted their price target on shares of Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Monday, December 1st. HC Wainwright raised their target price on shares of Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.56.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

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

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.