Insider Selling: Arrowhead Pharmaceuticals (NASDAQ:ARWR) CEO Sells 85,000 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 85,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $64.04, for a total transaction of $5,443,400.00. Following the sale, the chief executive officer directly owned 3,831,957 shares of the company’s stock, valued at approximately $245,398,526.28. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, December 16th, Christopher Richard Anzalone sold 54,298 shares of Arrowhead Pharmaceuticals stock. The shares were sold at an average price of $62.58, for a total transaction of $3,397,968.84.
• On Monday, December 15th, Christopher Richard Anzalone sold 130,000 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $68.85, for a total transaction of $8,950,500.00.

Arrowhead Pharmaceuticals Trading Up 2.5%

Shares of ARWR stock traded up $1.69 during trading hours on Friday, reaching $68.16. The company had a trading volume of 5,182,747 shares, compared to its average volume of 2,167,584. The company has a 50 day moving average of $47.82 and a 200 day moving average of $30.75. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of -851.89 and a beta of 1.28. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $9.57 and a 1-year high of $72.36.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley raised 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. Bank of America lifted their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. The Goldman Sachs Group boosted their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price target on shares of Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.89.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ARWR. iSAM Funds UK Ltd bought a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at about $29,000. Virtus Advisers LLC bought a new stake in Arrowhead Pharmaceuticals during the second quarter worth about $34,000. Salomon & Ludwin LLC acquired a new position in Arrowhead Pharmaceuticals during the third quarter valued at approximately $34,000. Nisa Investment Advisors LLC grew its stake in Arrowhead Pharmaceuticals by 75.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,032 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,308 shares in the last quarter. Finally, Federated Hermes Inc. bought a new position in Arrowhead Pharmaceuticals in the third quarter valued at approximately $52,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.