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

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) shares gapped down before the market opened on Monday. The stock had previously closed at $58.16, but opened at $52.49. Arrowhead Pharmaceuticals shares last traded at $48.6490, with a volume of 1,173,148 shares.

Analyst Ratings Changes

Several research firms recently weighed in on ARWR. Morgan Stanley boosted their target price on Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 17th. Chardan Capital reiterated a “buy” rating and issued a $115.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, October 15th. UBS Group started coverage on shares of Arrowhead Pharmaceuticals in a report on Thursday, October 15th. They issued a “buy” rating and a $109.00 target price on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $126.00 target price (up from $110.00) on shares of Arrowhead Pharmaceuticals in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.07.

Arrowhead Pharmaceuticals Price Performance

The firm has a market cap of $6.90 billion, a P/E ratio of -21.78 and a beta of 1.34. The stock’s 50-day moving average is $65.53 and its 200-day moving average is $71.28. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 1.77.

Insider Buying and Selling

In other news, Director Adeoye Olukotun sold 2,000 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total transaction of $173,920.00. Following the sale, the director owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Perry sold 11,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total value of $1,012,680.00. Following the sale, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. This represents a 9.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ARWR. Carolina Wealth Advisors LLC raised its position in Arrowhead Pharmaceuticals by 80.6% in the second quarter. Carolina Wealth Advisors LLC now owns 345 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 154 shares in the last quarter. Optiver Holding B.V. boosted its holdings in Arrowhead Pharmaceuticals by 83.8% during the first quarter. Optiver Holding B.V. now owns 408 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 186 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 44.4% in the 3rd quarter. Harbour Investments Inc. now owns 754 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 232 shares during the period. Versant Capital Management Inc grew its stake in shares of Arrowhead Pharmaceuticals by 285.1% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 248 shares during the period. Finally, QRG Capital Management Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 7.1% in the 2nd quarter. QRG Capital Management Inc. now owns 4,810 shares of the biotechnology company’s stock valued at $392,000 after purchasing an additional 317 shares during the period. 62.61% of the stock is owned by institutional investors.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals is a biotechnology company that develops medicines using RNA interference (RNAi), a biological process that can reduce the production of specific proteins by silencing the genes that encode them. Its proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi treatments to targeted tissues. The company’s research and development programs address a range of conditions, including liver, cardiometabolic, pulmonary and neurological diseases. Its work centers on investigational medicines and drug-development partnerships.