Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Down 6.4% – Time to Sell?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s share price fell 6.4% on Wednesday . The stock traded as low as $24.16 and last traded at $24.39. 1,014,398 shares were traded during trading, a decline of 20% from the average session volume of 1,260,170 shares. The stock had previously closed at $26.07.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ARWR shares. Piper Sandler cut their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. HC Wainwright boosted their target price on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday. B. Riley reaffirmed a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Wednesday, November 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Arrowhead Pharmaceuticals Stock Performance

The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. The firm’s fifty day moving average is $20.40 and its 200 day moving average is $23.24. The company has a market cap of $2.88 billion, a PE ratio of -4.80 and a beta of 0.91.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARWR. Avoro Capital Advisors LLC raised its holdings in Arrowhead Pharmaceuticals by 3.9% in the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after acquiring an additional 333,333 shares during the last quarter. State Street Corp raised its stake in shares of Arrowhead Pharmaceuticals by 8.8% in the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after acquiring an additional 516,569 shares during the period. Geode Capital Management LLC boosted its position in shares of Arrowhead Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after purchasing an additional 26,171 shares during the period. Bank of New York Mellon Corp increased its holdings in Arrowhead Pharmaceuticals by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock valued at $28,201,000 after purchasing an additional 30,086 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Arrowhead Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,006,935 shares of the biotechnology company’s stock worth $19,504,000 after purchasing an additional 12,574 shares in the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

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.