Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 5% - What's Next?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report)'s stock price traded down 5% on Wednesday . The stock traded as low as $17.69 and last traded at $17.94. 311,345 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 2,295,320 shares. The stock had previously closed at $18.89.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Wednesday. B. Riley reissued a "buy" rating and issued a $38.00 price target (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday. Citigroup lowered their price objective on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. Piper Sandler lowered their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. Finally, Chardan Capital reiterated a "buy" rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $41.44.

Arrowhead Pharmaceuticals Stock Performance

The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06. The firm has a 50-day moving average of $20.00 and a 200 day moving average of $21.10.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last announced its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.97). As a group, equities analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.4 EPS for the current fiscal year.

Insider Activity

In other Arrowhead Pharmaceuticals news, COO Patrick O'brien sold 29,184 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The stock was 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 of the company's stock, valued at $10,607,683.82. The trade was a 5.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James C. Hamilton sold 32,729 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $19.82, for a total value of $648,688.78. Following the completion of the sale, the insider now directly owns 272,122 shares in the company, valued at approximately $5,393,458.04. The trade was a 10.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,432 shares of company stock valued at $2,957,986 in the last ninety days. Corporate insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 63.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 632,214 shares of the biotechnology company's stock valued at $11,886,000 after acquiring an additional 244,527 shares during the period. Northern Trust Corp grew its position in shares of Arrowhead Pharmaceuticals by 11.4% during the 4th quarter. Northern Trust Corp now owns 1,484,419 shares of the biotechnology company's stock worth $27,907,000 after buying an additional 151,654 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in shares of Arrowhead Pharmaceuticals by 6.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 66,573 shares of the biotechnology company's stock valued at $1,252,000 after buying an additional 4,149 shares during the period. Aquatic Capital Management LLC raised its holdings in shares of Arrowhead Pharmaceuticals by 80.9% in the fourth quarter. Aquatic Capital Management LLC now owns 169,394 shares of the biotechnology company's stock valued at $3,185,000 after acquiring an additional 75,776 shares in the last quarter. Finally, Dark Forest Capital Management LP raised its holdings in shares of Arrowhead Pharmaceuticals by 82.6% in the fourth quarter. Dark Forest Capital Management LP now owns 172,623 shares of the biotechnology company's stock valued at $3,245,000 after acquiring an additional 78,078 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company's stock.

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.