Insider Selling: Arrowhead Pharmaceuticals (NASDAQ:ARWR) CEO Sells 130,000 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 130,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $68.85, for a total transaction of $8,950,500.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible 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 value of $3,397,968.84.

Arrowhead Pharmaceuticals Stock Down 8.4%

NASDAQ ARWR traded down $5.73 during trading hours on Tuesday, reaching $62.72. 2,308,546 shares of the company traded hands, compared to its average volume of 2,149,090. The stock has a market capitalization of $8.52 billion, a PE ratio of -784.85 and a beta of 1.28. 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 50 day moving average of $46.10 and a two-hundred day moving average of $29.92.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Cantor Fitzgerald L. P. increased its position in Arrowhead Pharmaceuticals by 14.7% during the third quarter. Cantor Fitzgerald L. P. now owns 19,500 shares of the biotechnology company’s stock worth $673,000 after buying an additional 2,500 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Arrowhead Pharmaceuticals in the 3rd quarter valued at $444,000. Keystone Financial Group acquired a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at $276,000. CANADA LIFE ASSURANCE Co boosted its position in Arrowhead Pharmaceuticals by 11.7% during the third quarter. CANADA LIFE ASSURANCE Co now owns 129,958 shares of the biotechnology company’s stock worth $4,389,000 after purchasing an additional 13,653 shares during the period. Finally, Woodline Partners LP boosted its position in Arrowhead Pharmaceuticals by 34.0% during the third quarter. Woodline Partners LP now owns 1,000,158 shares of the biotechnology company’s stock worth $34,495,000 after purchasing an additional 254,002 shares during the period. Institutional investors own 62.61% of the company’s stock.

Analyst Ratings Changes

ARWR has been the subject of a number of research reports. Royal Bank Of Canada increased their price target on Arrowhead Pharmaceuticals from $52.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Bank of America upped their price target 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 lifted their price objective 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. Finally, Piper Sandler increased their target price on shares of Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.56.

Arrowhead Pharmaceuticals Company Profile

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.