Christopher Richard Anzalone Sells 54,298 Shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Richard Anzalone sold 54,298 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $62.58, for a total transaction of $3,397,968.84. Following the completion of the transaction, the chief executive officer owned 3,916,957 shares in the company, valued at approximately $245,123,169.06. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, December 15th, Christopher Richard Anzalone sold 130,000 shares of Arrowhead Pharmaceuticals stock. The stock was sold at an average price of $68.85, for a total transaction of $8,950,500.00.

Arrowhead Pharmaceuticals Trading Up 0.2%

NASDAQ:ARWR opened at $64.80 on Thursday. Arrowhead Pharmaceuticals, Inc. has a 12 month low of $9.57 and a 12 month high of $72.36. The company has a current ratio of 4.86, a quick ratio of 4.86 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $47.22 and its 200 day moving average is $30.50. The stock has a market capitalization of $8.81 billion, a PE ratio of -809.90 and a beta of 1.28.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on Arrowhead Pharmaceuticals from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a report on Wednesday, October 8th. Chardan Capital reiterated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Monday, December 1st. The Goldman Sachs Group boosted their price target on shares of Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 20th. Finally, Piper Sandler upped their price target on shares of Arrowhead Pharmaceuticals from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.89.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Cantor Fitzgerald L. P. boosted its position in shares of Arrowhead Pharmaceuticals by 14.7% in the third quarter. Cantor Fitzgerald L. P. now owns 19,500 shares of the biotechnology company’s stock valued at $673,000 after acquiring an additional 2,500 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Arrowhead Pharmaceuticals in the 3rd quarter worth approximately $444,000. Keystone Financial Group bought a new position in Arrowhead Pharmaceuticals in the 3rd quarter valued at $276,000. CANADA LIFE ASSURANCE Co grew its position in shares of Arrowhead Pharmaceuticals by 11.7% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 129,958 shares of the biotechnology company’s stock valued at $4,389,000 after purchasing an additional 13,653 shares in the last quarter. Finally, Woodline Partners LP increased its holdings in shares of Arrowhead Pharmaceuticals by 34.0% in the third quarter. Woodline Partners LP now owns 1,000,158 shares of the biotechnology company’s stock worth $34,495,000 after purchasing an additional 254,002 shares during the period. 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.