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

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s stock price traded down 5.9% during 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.

Analysts Set New Price Targets

Several research firms have weighed in on ARWR. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a research report on Friday, December 20th. Citigroup dropped their price target on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, January 23rd. Sanford C. Bernstein dropped their target price on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Finally, Piper Sandler reduced their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Arrowhead Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $43.33.

Arrowhead Pharmaceuticals Stock Up 3.0 %

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 price-to-earnings ratio of -4.04 and a beta of 0.95. The business has a fifty day moving average of $20.73 and a 200 day moving average of $21.55.

Insiders Place Their Bets

In related news, Director William D. Waddill sold 3,748 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $21.90, for a total transaction of $82,081.20. Following the transaction, the director now owns 44,125 shares of the company’s stock, valued at $966,337.50. This trade represents a 7.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James C. Hamilton sold 32,729 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $648,688.78. Following the completion of the sale, the insider now directly owns 272,122 shares of the company’s stock, valued at $5,393,458.04. The trade was a 10.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,432 shares of company stock worth $2,957,986 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. World Investment Advisors LLC increased its holdings in shares of Arrowhead Pharmaceuticals by 3.8% in the third quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock worth $371,000 after acquiring an additional 700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Arrowhead Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,496 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 788 shares during the period. Wellington Management Group LLP increased its stake in Arrowhead Pharmaceuticals by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after purchasing an additional 886 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Arrowhead Pharmaceuticals by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 14,417 shares of the biotechnology company’s stock worth $279,000 after buying an additional 980 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Arrowhead Pharmaceuticals by 72.3% in the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 1,250 shares in the last quarter. 62.61% of the stock is owned by institutional investors.

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.