Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) COO Sells $578,426.88 in Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) COO Patrick O’brien sold 29,184 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $578,426.88. Following the sale, the chief operating officer now directly owns 535,201 shares in the company, valued at approximately $10,607,683.82. This 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 is accessible through this link.

Arrowhead Pharmaceuticals Stock Up 0.4 %

Shares of NASDAQ ARWR opened at $19.75 on Friday. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $17.05 and a 12-month high of $39.83. The firm’s 50-day moving average price is $21.05 and its 200-day moving average price is $22.53. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -3.93 and a beta of 0.97.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARWR. World Investment Advisors LLC boosted its holdings 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 worth $371,000 after purchasing an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Arrowhead Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock worth $88,000 after buying an additional 788 shares during the period. Arizona State Retirement System increased its position in Arrowhead Pharmaceuticals by 2.4% during the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock valued at $901,000 after acquiring an additional 821 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Arrowhead Pharmaceuticals by 1.5% in the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock valued at $1,199,000 after acquiring an additional 886 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Arrowhead Pharmaceuticals by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock worth $279,000 after acquiring an additional 980 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Friday, December 20th. Piper Sandler cut their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Finally, Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals currently has an average rating of “Hold” and an average price target 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.