Insider Selling: Arrowhead Pharmaceuticals (NASDAQ:ARWR) CEO Sells $8,950,500.00 in Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 130,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $68.85, for a total transaction of $8,950,500.00. Following the transaction, the chief executive officer owned 3,971,255 shares of the company’s stock, valued at $273,420,906.75. The trade was a 3.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, December 16th, Christopher Richard Anzalone sold 54,298 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $62.58, for a total transaction of $3,397,968.84.

Arrowhead Pharmaceuticals Trading Up 2.6%

Arrowhead Pharmaceuticals stock opened at $66.47 on Friday. The company has a market cap of $9.03 billion, a price-to-earnings ratio of -830.77 and a beta of 1.28. The firm has a 50-day moving average of $47.82 and a 200-day moving average of $30.75. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.86 and a quick ratio of 4.86. Arrowhead Pharmaceuticals, Inc. has a one year low of $9.57 and a one year high of $72.36.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ARWR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. HC Wainwright upped their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Bank of America lifted their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.89.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 16,035,870 shares of the biotechnology company’s stock worth $553,077,000 after buying an additional 510,798 shares during the period. Avoro Capital Advisors LLC lifted its position in Arrowhead Pharmaceuticals by 2.8% during the third quarter. Avoro Capital Advisors LLC now owns 10,900,000 shares of the biotechnology company’s stock worth $375,941,000 after acquiring an additional 300,000 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Arrowhead Pharmaceuticals by 138.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,785,062 shares of the biotechnology company’s stock worth $60,962,000 after acquiring an additional 2,774,933 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 1.0% during the second quarter. Geode Capital Management LLC now owns 2,978,505 shares of the biotechnology company’s stock worth $47,067,000 after acquiring an additional 28,193 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Arrowhead Pharmaceuticals by 0.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,528,982 shares of the biotechnology company’s stock valued at $32,220,000 after purchasing an additional 21,686 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.