Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 9.4% – Here’s What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) fell 9.4% during trading on Monday . The stock traded as low as $61.20 and last traded at $61.4360. 629,260 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 664,139 shares. The stock had previously closed at $67.79.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ARWR shares. Piper Sandler raised their target price on shares of Arrowhead Pharmaceuticals from $70.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Morgan Stanley raised their price target on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. Bank of America upped their price objective on Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Chardan Capital reissued a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Monday, December 1st. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $61.89.

Arrowhead Pharmaceuticals Stock Down 6.0%

The stock has a market cap of $8.66 billion, a P/E ratio of -795.14 and a beta of 1.21. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average is $54.71 and its 200-day moving average is $35.01.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 130,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $68.85, for a total value of $8,950,500.00. Following the sale, the chief executive officer directly owned 3,971,255 shares in the company, valued at approximately $273,420,906.75. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adeoye Y. Olukotun sold 10,000 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $67.66, for a total transaction of $676,600.00. Following the completion of the sale, the director directly owned 33,600 shares of the company’s stock, valued at $2,273,376. The trade was a 22.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 407,992 shares of company stock worth $27,073,147 in the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its stake 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 acquiring an additional 326 shares in the last quarter. State of Wyoming lifted its position 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 purchasing an additional 504 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Arrowhead Pharmaceuticals by 1.9% in the third quarter. Arizona State Retirement System now owns 32,661 shares of the biotechnology company’s stock worth $1,126,000 after purchasing an additional 620 shares in the last quarter. CWM LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 6.7% during the third quarter. CWM LLC now owns 12,179 shares of the biotechnology company’s stock worth $420,000 after purchasing an additional 764 shares during the period. Finally, iSAM Funds UK Ltd purchased a new position in Arrowhead Pharmaceuticals during the third quarter valued at approximately $29,000. 62.61% of the stock is owned by institutional investors and hedge funds.

About Arrowhead Pharmaceuticals

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.