Arrowhead Pharmaceuticals (NASDAQ:ARWR) Hits New 12-Month Low – Time to Sell?

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) hit a new 52-week low during trading on Monday . The stock traded as low as $9.57 and last traded at $9.63, with a volume of 217226 shares. The stock had previously closed at $10.68.

Wall Street Analyst Weigh In

ARWR has been the subject of a number of research analyst reports. B. Riley restated a “buy” rating and set a $38.00 price objective (down previously from $51.00) on shares of Arrowhead Pharmaceuticals in a research report on Friday, February 14th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research note on Friday, December 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, February 11th. Chardan Capital reissued a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.44.

Arrowhead Pharmaceuticals Stock Down 2.5 %

The company’s fifty day simple moving average is $16.71 and its 200-day simple moving average is $19.08. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09. The firm has a market capitalization of $1.37 billion, a PE ratio of -1.93 and a beta of 0.99.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Monday, February 10th. The biotechnology company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.97). On average, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -2.42 EPS for the current year.

Insider Buying and Selling

In other news, CEO Christopher Richard Anzalone sold 51,425 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $15.07, for a total value of $774,974.75. Following the completion of the transaction, the chief executive officer now directly owns 4,062,377 shares in the company, valued at $61,220,021.39. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 185,717 shares of company stock worth $3,064,441 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Arrowhead Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Avoro Capital Advisors LLC raised its stake in shares of Arrowhead Pharmaceuticals by 25.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 11,111,111 shares of the biotechnology company’s stock valued at $208,889,000 after buying an additional 2,222,223 shares during the last quarter. State Street Corp grew its position in shares of Arrowhead Pharmaceuticals by 8.8% during the 3rd quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after acquiring an additional 516,569 shares during the period. Slate Path Capital LP increased its stake in shares of Arrowhead Pharmaceuticals by 7.1% in the 4th quarter. Slate Path Capital LP now owns 5,232,000 shares of the biotechnology company’s stock valued at $98,362,000 after purchasing an additional 347,000 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 worth $57,426,000 after purchasing an additional 26,171 shares during the period. Finally, Norges Bank purchased a new position in Arrowhead Pharmaceuticals during the fourth quarter worth approximately $38,622,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.