Arrowhead Pharmaceuticals (NASDAQ:ARWR) Trading 3.2% Higher – Here’s Why

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) traded up 3.2% on Wednesday . The stock traded as high as $20.34 and last traded at $20.30. 570,721 shares were traded during mid-day trading, a decline of 48% from the average session volume of 1,102,783 shares. The stock had previously closed at $19.67.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ARWR. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Chardan Capital reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. Citigroup dropped their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Sanford C. Bernstein cut their target price on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $43.33.

Arrowhead Pharmaceuticals Stock Down 6.4 %

The company’s 50-day simple moving average is $21.05 and its two-hundred day simple moving average is $22.53. The firm has a market capitalization of $2.30 billion, a P/E ratio of -3.68 and a beta of 0.97. The company has a debt-to-equity ratio of 2.06, a current ratio of 6.74 and a quick ratio of 6.74.

Insiders Place Their Bets

In other news, Director Adeoye Y. Olukotun sold 2,850 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $20.00, for a total value of $57,000.00. Following the transaction, the director now directly owns 36,740 shares in the company, valued at $734,800. The trade was a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Waddill sold 3,748 shares of the 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 sale, the director now directly owns 44,125 shares of the company’s stock, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,473 shares of company stock worth $2,937,847 over the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Nordea Investment Management AB grew its position in Arrowhead Pharmaceuticals by 6.3% in the fourth quarter. Nordea Investment Management AB now owns 132,188 shares of the biotechnology company’s stock worth $2,463,000 after acquiring an additional 7,776 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Arrowhead Pharmaceuticals by 9.4% during the 3rd quarter. Franklin Resources Inc. now owns 19,251 shares of the biotechnology company’s stock worth $373,000 after acquiring an additional 1,658 shares during the last quarter. World Investment Advisors LLC boosted its holdings in Arrowhead Pharmaceuticals by 3.8% during the 3rd quarter. World Investment Advisors LLC now owns 19,132 shares of the biotechnology company’s stock valued at $371,000 after acquiring an additional 700 shares during the period. Geode Capital Management LLC grew its position in Arrowhead Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after acquiring an additional 26,171 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Arrowhead Pharmaceuticals in the third quarter worth $345,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

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.