Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Get Free Report) CFO Kenneth Allen Myszkowski sold 27,167 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $19.83, for a total transaction of $538,721.61. Following the transaction, the chief financial officer now directly owns 473,433 shares of the company’s stock, valued at $9,388,176.39. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Arrowhead Pharmaceuticals Stock Up 0.9 %
Shares of ARWR stock traded up $0.17 during trading hours on Tuesday, reaching $19.67. The company had a trading volume of 1,197,900 shares, compared to its average volume of 1,241,250. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $17.05 and a twelve month high of $39.83. The stock’s fifty day simple moving average is $21.03 and its 200 day simple moving average is $22.56. The company has a market capitalization of $2.45 billion, a P/E ratio of -3.92 and a beta of 0.97.
Wall Street Analysts Forecast Growth
A number of research firms have commented on ARWR. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a report on Monday, September 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Thursday, September 26th. 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 research report on Wednesday, November 27th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Friday, December 20th. Finally, Sanford C. Bernstein cut their price objective 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Hold” and a consensus target price of $43.33.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ARWR. Avoro Capital Advisors LLC increased its holdings in 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 purchasing an additional 333,333 shares during the last quarter. State Street Corp lifted its stake in Arrowhead Pharmaceuticals by 8.8% during the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock worth $123,083,000 after purchasing an additional 516,569 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Arrowhead Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock worth $57,426,000 after purchasing an additional 26,171 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,006,935 shares of the biotechnology company’s stock valued at $19,504,000 after buying an additional 12,574 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 61.9% during the second quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock valued at $13,755,000 after purchasing an additional 202,280 shares during the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.
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.
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