Insider Selling: Arrowhead Pharmaceuticals (NASDAQ:ARWR) CFO Sells $934,328.25 in Stock

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CFO Daniel Joseph Apel sold 13,095 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total value of $934,328.25. Following the transaction, the chief financial officer directly owned 162,905 shares of the company’s stock, valued at approximately $11,623,271.75. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR opened at $73.91 on Monday. The stock has a market cap of $10.35 billion, a PE ratio of 48.31 and a beta of 1.26. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.29. Arrowhead Pharmaceuticals, Inc. has a 52-week low of $12.44 and a 52-week high of $76.76. The business has a 50-day moving average price of $62.83 and a 200 day moving average price of $58.51.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Thursday, February 5th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). The firm had revenue of $264.03 million during the quarter, compared to analyst estimates of $225.66 million. Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The firm’s revenue for the quarter was up 10461.3% compared to the same quarter last year. During the same period last year, the company earned ($1.39) earnings per share. Equities research analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. B. Riley Financial upped their target price on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings raised Arrowhead Pharmaceuticals from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. Morgan Stanley raised Arrowhead Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group upped their target price on Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Arrowhead Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $83.78.

Institutional Trading of Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARWR. Arrowstreet Capital Limited Partnership raised its stake in Arrowhead Pharmaceuticals by 3,142.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company’s stock valued at $71,797,000 after acquiring an additional 2,017,489 shares during the last quarter. Norges Bank purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at approximately $113,159,000. Fred Alger Management LLC raised its stake in Arrowhead Pharmaceuticals by 497.4% during the 4th quarter. Fred Alger Management LLC now owns 1,832,997 shares of the biotechnology company’s stock valued at $121,693,000 after acquiring an additional 1,526,164 shares during the last quarter. Deerfield Management Company L.P. purchased a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at approximately $34,249,000. Finally, Vestal Point Capital LP purchased a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at approximately $59,751,000. 62.61% of the stock is owned by hedge funds and other institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company’s approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company’s pipeline includes multiple candidates in various stages of development.