Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 3.9% After Insider Selling

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price dropped 3.9% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $66.78 and last traded at $66.8950. Approximately 253,974 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 2,134,357 shares. The stock had previously closed at $69.62.

Specifically, Director Mauro Ferrari sold 7,530 shares of the stock in a transaction on Friday, December 26th. The stock was sold at an average price of $70.00, for a total transaction of $527,100.00. Following the transaction, the director owned 69,053 shares of the company’s stock, valued at approximately $4,833,710. This represents a 9.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Richard Anzalone sold 51,726 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $69.13, for a total transaction of $3,575,818.38. Following the completion of the sale, the chief executive officer directly owned 3,805,926 shares of the company’s stock, valued at approximately $263,103,664.38. This trade represents a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, December 1st. Piper Sandler increased their price objective on shares of Arrowhead Pharmaceuticals from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Bank of America lifted their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Morgan Stanley upped their target price on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. Finally, HC Wainwright lifted their price target on Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $61.89.

Arrowhead Pharmaceuticals Trading Down 1.3%

The company has a 50 day moving average of $53.54 and a two-hundred day moving average of $34.15. The stock has a market capitalization of $9.02 billion, a PE ratio of -829.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.86 and a current ratio of 4.86.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. iSAM Funds UK Ltd acquired a new stake in Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $29,000. Virtus Advisers LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the second quarter worth $34,000. Salomon & Ludwin LLC purchased a new position in shares of Arrowhead Pharmaceuticals in the third quarter worth $34,000. Nisa Investment Advisors LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 75.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock worth $48,000 after buying an additional 1,308 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in shares of Arrowhead Pharmaceuticals during the third quarter valued at $52,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

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.