Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Insider Tracie Oliver Sells 9,394 Shares

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) insider Tracie Oliver sold 9,394 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total transaction of $237,480.32. Following the transaction, the insider now directly owns 127,107 shares of the company’s stock, valued at approximately $3,213,264.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Arrowhead Pharmaceuticals Price Performance

NASDAQ:ARWR traded down $0.15 during midday trading on Wednesday, reaching $25.07. The stock had a trading volume of 360,710 shares, compared to its average volume of 1,325,371. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $20.67 and a 1-year high of $39.83. The stock has a market capitalization of $3.11 billion, a P/E ratio of -5.90 and a beta of 0.94. The firm’s fifty day simple moving average is $24.49 and its 200-day simple moving average is $28.33.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. During the same period last year, the business posted $0.45 EPS. The company’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, equities research analysts anticipate that Arrowhead Pharmaceuticals, Inc. will post -3.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC bought a new position in Arrowhead Pharmaceuticals in the 3rd quarter valued at $257,000. Qube Research & Technologies Ltd grew its position in shares of Arrowhead Pharmaceuticals by 98.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 71,558 shares of the biotechnology company’s stock worth $1,923,000 after buying an additional 35,463 shares during the period. Glenmede Trust Co. NA raised its stake in shares of Arrowhead Pharmaceuticals by 68.6% during the third quarter. Glenmede Trust Co. NA now owns 16,905 shares of the biotechnology company’s stock worth $454,000 after buying an additional 6,876 shares during the last quarter. Seven Eight Capital LP lifted its holdings in Arrowhead Pharmaceuticals by 92.6% in the third quarter. Seven Eight Capital LP now owns 24,474 shares of the biotechnology company’s stock valued at $658,000 after buying an additional 11,764 shares during the period. Finally, Sectoral Asset Management Inc. boosted its stake in Arrowhead Pharmaceuticals by 9.5% in the third quarter. Sectoral Asset Management Inc. now owns 157,552 shares of the biotechnology company’s stock valued at $4,233,000 after acquiring an additional 13,630 shares during the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, May 13th. Chardan Capital reaffirmed a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, June 26th. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, June 11th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.89.

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.