Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) COO Sells $578,426.88 in Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) COO Patrick O’brien sold 29,184 shares of the company’s 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 completion of the sale, the chief operating officer now owns 535,201 shares in the company, valued at approximately $10,607,683.82. This represents a 5.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Arrowhead Pharmaceuticals Stock Up 0.9 %

Shares of NASDAQ ARWR opened at $19.67 on Wednesday. The firm’s 50 day moving average price is $21.03 and its 200 day moving average price is $22.56. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The firm has a market cap of $2.45 billion, a P/E ratio of -3.92 and a beta of 0.97. Arrowhead Pharmaceuticals, Inc. has a 1 year low of $17.05 and a 1 year high of $39.83.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its position in Arrowhead Pharmaceuticals by 3.7% during the second quarter. Commonwealth Equity Services LLC now owns 34,663 shares of the biotechnology company’s stock worth $901,000 after buying an additional 1,250 shares during the period. Rhumbline Advisers increased its stake in shares of Arrowhead Pharmaceuticals by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 383,029 shares of the biotechnology company’s stock valued at $9,955,000 after acquiring an additional 10,924 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Arrowhead Pharmaceuticals by 90.8% during the 2nd quarter. TD Asset Management Inc now owns 54,200 shares of the biotechnology company’s stock valued at $1,409,000 after acquiring an additional 25,800 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 67.3% during the 2nd quarter. Victory Capital Management Inc. now owns 41,090 shares of the biotechnology company’s stock worth $1,068,000 after acquiring an additional 16,534 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Arrowhead Pharmaceuticals by 2.4% in the second quarter. Arizona State Retirement System now owns 34,685 shares of the biotechnology company’s stock worth $901,000 after acquiring an additional 821 shares during the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on ARWR shares. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Chardan Capital restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Citigroup cut their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Finally, Sanford C. Bernstein reduced their target price on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.