Insider Selling: Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) COO Sells 29,184 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) COO Patrick O’brien sold 29,184 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $578,426.88. Following the completion of the sale, the chief operating officer now owns 535,201 shares of the company’s stock, valued at $10,607,683.82. This trade represents a 5.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock opened at $19.75 on Thursday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. Arrowhead Pharmaceuticals, Inc. has a 52 week low of $17.05 and a 52 week high of $39.83. The stock has a market capitalization of $2.46 billion, a P/E ratio of -3.93 and a beta of 0.97. The stock has a fifty day moving average of $21.04 and a 200-day moving average of $22.55.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. World Investment Advisors LLC boosted its stake in shares of Arrowhead Pharmaceuticals by 3.8% in the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Arrowhead Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 788 shares during the last quarter. Arizona State Retirement System boosted its position in Arrowhead Pharmaceuticals by 2.4% in the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock valued at $901,000 after buying an additional 821 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Arrowhead Pharmaceuticals by 1.5% during the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after buying an additional 886 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Arrowhead Pharmaceuticals by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock worth $279,000 after buying an additional 980 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Friday, December 20th. Finally, Piper Sandler dropped their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $43.33.

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.