Adeoye Y. Olukotun Sells 2,850 Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) Director Adeoye Y. Olukotun sold 2,850 shares of the company's stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $20.00, for a total value of $57,000.00. Following the completion of the sale, the director now directly owns 36,740 shares of the company's stock, valued at approximately $734,800. This trade represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arrowhead Pharmaceuticals Trading Down 1.8 %

Shares of Arrowhead Pharmaceuticals stock traded down $0.35 during trading on Monday, reaching $18.61. The company's stock had a trading volume of 1,126,742 shares, compared to its average volume of 2,028,515. The business has a 50 day moving average price of $21.16 and a 200-day moving average price of $22.84. The company has a quick ratio of 6.74, a current 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.

Analyst Ratings Changes

ARWR has been the subject of several research reports. Piper Sandler reduced their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein dropped their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a "market perform" rating on the stock in a research note on Friday, November 29th. StockNews.com raised Arrowhead Pharmaceuticals to a "sell" rating in a report on Friday, December 20th. Citigroup reduced their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.70.

Institutional Trading of Arrowhead Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ARWR. Values First Advisors Inc. purchased a new position in Arrowhead Pharmaceuticals in the third quarter valued at about $52,000. Meeder Asset Management Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 4,629.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,405 shares of the biotechnology company's stock worth $88,000 after acquiring an additional 3,333 shares during the period. nVerses Capital LLC purchased a new position in Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $96,000. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 purchasing an additional 788 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Arrowhead Pharmaceuticals during the third quarter worth $149,000. Institutional investors and hedge funds own 62.61% of the company's stock.

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.