Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Short Interest Down 17.2% in August

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 8,650,000 shares, a decline of 17.2% from the August 15th total of 10,450,000 shares. Based on an average trading volume of 1,020,000 shares, the short-interest ratio is presently 8.5 days.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider Tracie Oliver sold 9,394 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.28, for a total transaction of $237,480.32. Following the sale, the insider now directly owns 127,107 shares in the company, valued at $3,213,264.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ARWR. Vanguard Group Inc. grew its stake in shares of Arrowhead Pharmaceuticals by 16.2% during the first quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after purchasing an additional 1,731,974 shares during the period. Avoro Capital Advisors LLC grew its position in shares of Arrowhead Pharmaceuticals by 3.9% during the 2nd quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after buying an additional 333,333 shares during the period. Norges Bank bought a new stake in shares of Arrowhead Pharmaceuticals in the 4th quarter valued at about $40,451,000. Capital International Investors raised its position in shares of Arrowhead Pharmaceuticals by 55.2% in the 4th quarter. Capital International Investors now owns 1,277,560 shares of the biotechnology company’s stock valued at $39,093,000 after acquiring an additional 454,631 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Arrowhead Pharmaceuticals by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,069 shares of the biotechnology company’s stock worth $28,201,000 after acquiring an additional 30,086 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Trading Up 0.6 %

Arrowhead Pharmaceuticals stock traded up $0.12 during mid-day trading on Wednesday, hitting $20.13. The stock had a trading volume of 476,726 shares, compared to its average volume of 1,226,485. The stock has a 50-day simple moving average of $25.04 and a two-hundred day simple moving average of $25.50. The stock has a market capitalization of $2.50 billion, a PE ratio of -4.71 and a beta of 0.96. Arrowhead Pharmaceuticals has a 12 month low of $19.44 and a 12 month high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative net margin of 163.32% and a negative return on equity of 152.95%. During the same quarter in the prior year, the business posted ($0.96) earnings per share. The company’s revenue for the quarter was down 100.0% on a year-over-year basis. Sell-side analysts expect that Arrowhead Pharmaceuticals will post -4.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARWR has been the subject of a number of analyst reports. The Goldman Sachs Group started coverage on Arrowhead Pharmaceuticals in a report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price objective for the company. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. Chardan Capital reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 17th. HC Wainwright restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, September 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

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.