Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) COO Patrick O’brien Sells 29,184 Shares

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) COO Patrick O’brien sold 29,184 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were 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 directly owns 535,201 shares of the company’s stock, valued at $10,607,683.82. The trade was a 5.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Arrowhead Pharmaceuticals Trading Up 0.9 %

NASDAQ ARWR opened at $19.67 on Wednesday. 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 stock has a market capitalization of $2.45 billion, a P/E ratio of -3.92 and a beta of 0.97. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $17.05 and a 52-week high of $39.83. The firm has a 50-day moving average price of $21.03 and a 200 day moving average price of $22.56.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Piper Sandler cut their price target on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Citigroup reduced their price target 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. Chardan Capital reissued a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. Sanford C. Bernstein reduced their target price on shares of Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, November 29th. Finally, StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. One research 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’s stock. According to MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $43.33.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Large investors have recently modified their holdings of the business. State Street Corp boosted its stake in shares of Arrowhead Pharmaceuticals by 8.8% in the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after buying an additional 516,569 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Arrowhead Pharmaceuticals in the second quarter valued at $9,976,000. Avoro Capital Advisors LLC lifted its holdings in Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock valued at $231,022,000 after acquiring an additional 333,333 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Arrowhead Pharmaceuticals by 232.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 293,083 shares of the biotechnology company’s stock worth $5,677,000 after purchasing an additional 204,933 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Arrowhead Pharmaceuticals by 61.9% during the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after purchasing an additional 202,280 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.