Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,148,405 shares of the biotechnology company's stock after selling 167,300 shares during the period. JPMorgan Chase & Co. owned about 1.73% of Arrowhead Pharmaceuticals worth $41,615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Values First Advisors Inc. acquired a new stake in Arrowhead Pharmaceuticals in the third quarter valued at approximately $52,000. Meeder Asset Management Inc. raised 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 valued at $88,000 after purchasing an additional 3,333 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Arrowhead Pharmaceuticals by 21.3% during the 3rd 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. Quantbot Technologies LP acquired a new position in shares of Arrowhead Pharmaceuticals during the third quarter worth $149,000. Finally, Quarry LP increased its holdings in Arrowhead Pharmaceuticals by 54.5% in the second quarter. Quarry LP now owns 8,500 shares of the biotechnology company's stock valued at $221,000 after buying an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 62.61% of the company's stock.

Arrowhead Pharmaceuticals Price Performance

Shares of Arrowhead Pharmaceuticals stock traded down $0.29 during trading on Monday, reaching $19.50. The company's stock had a trading volume of 1,462,451 shares, compared to its average volume of 1,255,717. The business has a 50 day moving average price of $21.05 and a 200-day moving average price of $22.64. Arrowhead Pharmaceuticals, Inc. has a 12-month low of $17.05 and a 12-month high of $39.83. The company has a market capitalization of $2.43 billion, a P/E ratio of -3.88 and a beta of 0.97. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06.

Insiders Place Their Bets

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 26,712 shares of the company's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.24, for a total value of $567,362.88. Following the sale, the chief executive officer now owns 3,688,335 shares of the company's stock, valued at approximately $78,340,235.40. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Waddill sold 3,748 shares of Arrowhead Pharmaceuticals stock in a transaction on Monday, December 16th. The stock was sold at an average price of $21.90, for a total value of $82,081.20. Following the transaction, the director now directly owns 44,125 shares of the company's stock, valued at $966,337.50. This trade represents a 7.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,393 shares of company stock worth $1,172,009. Corporate insiders own 4.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Sanford C. Bernstein decreased their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a "market perform" rating for the company in a report on Friday, November 29th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Citigroup cut their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. Chardan Capital restated a "buy" rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Finally, HC Wainwright reiterated a "buy" rating and set a $80.00 price target 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 six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $43.33.

Arrowhead Pharmaceuticals Company Profile

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.