Insider Selling: Arrowhead Pharmaceuticals (NASDAQ:ARWR) CEO Sells 51,726 Shares of Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 51,726 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $69.13, for a total transaction of $3,575,818.38. Following the completion of the transaction, the chief executive officer owned 3,805,926 shares in the company, valued at $263,103,664.38. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, December 22nd, Christopher Richard Anzalone sold 12,586 shares of Arrowhead Pharmaceuticals stock. The shares were sold at an average price of $68.44, for a total transaction of $861,385.84.
• On Friday, December 19th, Christopher Richard Anzalone sold 13,445 shares of Arrowhead Pharmaceuticals stock. The shares were sold at an average price of $67.66, for a total value of $909,688.70.
• On Wednesday, December 17th, Christopher Richard Anzalone sold 85,000 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $64.04, for a total value of $5,443,400.00.
• On Tuesday, December 16th, Christopher Richard Anzalone sold 54,298 shares of Arrowhead Pharmaceuticals stock. The shares were sold at an average price of $62.58, for a total value of $3,397,968.84.
• On Monday, December 15th, Christopher Richard Anzalone sold 130,000 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $68.85, for a total value of $8,950,500.00.

Arrowhead Pharmaceuticals Stock Down 3.4%

Shares of Arrowhead Pharmaceuticals stock traded down $2.37 during trading on Tuesday, hitting $67.25. 1,334,299 shares of the stock traded hands, compared to its average volume of 2,139,110. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $52.38 and its 200 day simple moving average is $33.56. The firm has a market cap of $9.14 billion, a P/E ratio of -840.52 and a beta of 1.28. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $9.57 and a 52-week high of $72.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARWR. Hsbc Holdings PLC purchased a new stake in Arrowhead Pharmaceuticals in the first quarter valued at about $173,000. Comerica Bank increased its holdings in shares of Arrowhead Pharmaceuticals by 17.9% during the first quarter. Comerica Bank now owns 42,343 shares of the biotechnology company’s stock valued at $539,000 after acquiring an additional 6,422 shares in the last quarter. Royal Bank of Canada raised its position in shares of Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company’s stock valued at $576,000 after purchasing an additional 10,496 shares during the last quarter. ADAR1 Capital Management LLC boosted its stake in Arrowhead Pharmaceuticals by 336.4% in the 1st quarter. ADAR1 Capital Management LLC now owns 56,300 shares of the biotechnology company’s stock worth $717,000 after purchasing an additional 43,400 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Arrowhead Pharmaceuticals during the 1st quarter worth approximately $514,000. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ARWR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Morgan Stanley upped their target price on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. The Goldman Sachs Group increased their target price on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 20th. Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Monday, December 1st. Finally, HC Wainwright raised their price objective on Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.89.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.