Insider Selling: Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Sells 51,425 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) CEO Christopher Richard Anzalone sold 51,425 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $15.07, for a total transaction of $774,974.75. Following the completion of the transaction, the chief executive officer now owns 4,062,377 shares in the company, valued at $61,220,021.39. This represents a 1.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Christopher Richard Anzalone also recently made the following trade(s):

• On Tuesday, March 4th, Christopher Richard Anzalone sold 133,333 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $17.02, for a total transaction of $2,269,327.66.
• On Thursday, January 2nd, Christopher Richard Anzalone sold 11,520 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $19.05, for a total transaction of $219,456.00.
• On Monday, December 23rd, Christopher Richard Anzalone sold 12,563 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $19.59, for a total transaction of $246,109.17.
• On Wednesday, December 18th, Christopher Richard Anzalone sold 26,712 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $21.24, for a total transaction of $567,362.88.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR traded down $0.30 during trading on Friday, reaching $14.81. The company had a trading volume of 1,124,747 shares, compared to its average volume of 1,250,726. The firm's fifty day moving average is $18.66 and its 200 day moving average is $19.98. The firm has a market capitalization of $2.03 billion, a PE ratio of -2.91 and a beta of 0.92. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $14.23 and a twelve month high of $30.41. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09.

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Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last released its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.97). On average, equities analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Analyst Upgrades and Downgrades

ARWR has been the subject of a number of recent research reports. B. Riley reaffirmed a "buy" rating and set a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 12th. Piper Sandler lowered their price objective 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 lowered their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a "market perform" rating for the company in a research report on Friday, November 29th. Finally, Citigroup lowered their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $41.44.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several hedge funds have recently made changes to their positions in ARWR. Mackenzie Financial Corp acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $137,000. GF Fund Management CO. LTD. bought a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at about $49,000. Neo Ivy Capital Management bought a new position in Arrowhead Pharmaceuticals during the 4th quarter valued at about $318,000. Two Sigma Advisers LP raised its stake in shares of Arrowhead Pharmaceuticals by 330.7% in the fourth quarter. Two Sigma Advisers LP now owns 430,700 shares of the biotechnology company's stock worth $8,097,000 after acquiring an additional 330,700 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Arrowhead Pharmaceuticals by 281.3% in the fourth quarter. Two Sigma Investments LP now owns 794,373 shares of the biotechnology company's stock worth $14,934,000 after acquiring an additional 586,062 shares during the last quarter. Hedge funds and other institutional investors 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.