Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Down 8% - Here's What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) shares fell 8% during mid-day trading on Monday . The stock traded as low as $12.14 and last traded at $12.72. 259,295 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,335,061 shares. The stock had previously closed at $13.82.

Wall Street Analyst Weigh In

ARWR has been the subject of several recent analyst reports. Chardan Capital restated a "buy" rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a "sell" rating in a report on Friday, December 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Finally, B. Riley reiterated a "buy" rating and set a $38.00 price target (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $41.44.

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Arrowhead Pharmaceuticals Stock Down 11.4 %

The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -2.07 and a beta of 0.92. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09. The stock has a fifty day moving average of $17.51 and a two-hundred day moving average of $19.38.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.97). Sell-side analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Richard Anzalone sold 51,425 shares of Arrowhead Pharmaceuticals stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $15.07, for a total value of $774,974.75. Following the completion of the transaction, the chief executive officer now directly owns 4,062,377 shares of the company's stock, valued at approximately $61,220,021.39. This trade represents a 1.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Patrick O'brien sold 29,184 shares of the company'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 owns 535,201 shares in the company, valued at approximately $10,607,683.82. The trade was a 5.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 274,797 shares of company stock worth $4,830,279. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in Arrowhead Pharmaceuticals in the fourth quarter valued at $38,000. GF Fund Management CO. LTD. bought a new stake in Arrowhead Pharmaceuticals in the 4th quarter valued at about $49,000. Van ECK Associates Corp raised its stake in Arrowhead Pharmaceuticals by 72.3% during the 4th quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company's stock worth $56,000 after buying an additional 1,250 shares during the period. KBC Group NV raised its stake in Arrowhead Pharmaceuticals by 45.9% during the 4th quarter. KBC Group NV now owns 5,224 shares of the biotechnology company's stock worth $98,000 after buying an additional 1,644 shares during the period. Finally, Mackenzie Financial Corp bought a new position in Arrowhead Pharmaceuticals in the fourth quarter worth approximately $137,000. 62.61% of the stock is owned by institutional investors.

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.