Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone Sells 12,563 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 12,563 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $19.59, for a total value of $246,109.17. Following the transaction, the chief executive officer now directly owns 3,775,772 shares in the company, valued at $73,967,373.48. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 value of $567,362.88.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock opened at $19.75 on Tuesday. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $17.05 and a twelve month high of $39.83. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -3.93 and a beta of 0.91. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06. The business’s fifty day moving average is $21.26 and its 200 day moving average is $22.99.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. HighTower Advisors LLC grew its holdings in Arrowhead Pharmaceuticals by 11.5% in the third quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company’s stock worth $2,401,000 after purchasing an additional 12,706 shares during the period. Avoro Capital Advisors LLC grew its stake in shares of Arrowhead Pharmaceuticals by 3.9% in 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 last quarter. Intech Investment Management LLC bought a new position in Arrowhead Pharmaceuticals during the 3rd quarter valued at approximately $659,000. Erste Asset Management GmbH bought a new stake in Arrowhead Pharmaceuticals in the third quarter worth $924,000. Finally, Millennium Management LLC grew its stake in shares of Arrowhead Pharmaceuticals by 61.9% in the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after acquiring an additional 202,280 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ARWR has been the topic of several recent analyst reports. Sanford C. Bernstein cut their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Chardan Capital restated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. 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 note on Wednesday, November 27th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday. Finally, Piper Sandler dropped their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.70.

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.