Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock Price Down 5.9% – What’s Next?

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price traded down 5.9% during mid-day trading on Monday . The stock traded as low as $18.55 and last traded at $18.71. 908,187 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 2,617,507 shares. The stock had previously closed at $19.88.

Analyst Ratings Changes

Several brokerages have recently commented on ARWR. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, January 23rd. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Piper Sandler decreased their target price 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. Sanford C. Bernstein cut their price objective 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, Chardan Capital reissued a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. One 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $43.33.

Arrowhead Pharmaceuticals Price Performance

The business’s fifty day moving average price is $20.73 and its 200 day moving average price is $21.55. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74. The stock has a market cap of $2.54 billion, a P/E ratio of -4.04 and a beta of 0.95.

Insider Activity

In other news, Director Adeoye Y. Olukotun sold 2,850 shares of Arrowhead Pharmaceuticals stock in a transaction on Friday, December 27th. The stock was sold at an average price of $20.00, for a total transaction of $57,000.00. Following the sale, the director now directly owns 36,740 shares in the company, valued at $734,800. The trade was a 7.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James C. Hamilton sold 32,729 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.82, for a total value of $648,688.78. Following the completion of the sale, the insider now owns 272,122 shares in the company, valued at approximately $5,393,458.04. The trade was a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,432 shares of company stock valued at $2,957,986. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Arrowhead Pharmaceuticals by 139.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 145,874 shares of the biotechnology company’s stock valued at $3,791,000 after buying an additional 84,867 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Arrowhead Pharmaceuticals by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 149,156 shares of the biotechnology company’s stock worth $3,877,000 after purchasing an additional 1,677 shares in the last quarter. Creative Planning boosted its stake in Arrowhead Pharmaceuticals by 9.4% in the 2nd quarter. Creative Planning now owns 28,276 shares of the biotechnology company’s stock worth $735,000 after purchasing an additional 2,420 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Arrowhead Pharmaceuticals by 275.8% during the third quarter. SG Americas Securities LLC now owns 35,206 shares of the biotechnology company’s stock valued at $682,000 after acquiring an additional 25,837 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Arrowhead Pharmaceuticals by 17.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 35,700 shares of the biotechnology company’s stock valued at $692,000 after acquiring an additional 5,200 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

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.