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Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Short Interest Up 11.8% in December

Defense World · Jan 24, 2023 01:31

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Get Rating) was the recipient of a significant increase in short interest in December. As of December 30th, there was short interest totalling 4,740,000 shares, an increase of 11.8% from the December 15th total of 4,240,000 shares. Based on an average daily volume of 951,300 shares, the short-interest ratio is presently 5.0 days. Currently, 4.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ARWR. StockNews.com began coverage on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, October 12th. They set a "hold" rating for the company. HC Wainwright cut their target price on shares of Arrowhead Pharmaceuticals from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, December 6th. Chardan Capital cut their target price on shares of Arrowhead Pharmaceuticals from $82.00 to $60.00 in a research note on Tuesday, January 10th. SVB Leerink dropped their price objective on shares of Arrowhead Pharmaceuticals from $33.00 to $31.00 and set a "market perform" rating for the company in a research note on Tuesday, November 29th. Finally, B. Riley dropped their price objective on shares of Arrowhead Pharmaceuticals from $65.00 to $59.00 and set a "buy" rating for the company in a research note on Wednesday, November 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $59.22.

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Insider Transactions at Arrowhead Pharmaceuticals

In other news, Director William D. Waddill sold 3,200 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $30.00, for a total value of $96,000.00. Following the completion of the sale, the director now directly owns 28,950 shares of the company's stock, valued at $868,500. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Patrick O'brien sold 17,500 shares of the firm's stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $38.33, for a total transaction of $670,775.00. Following the completion of the transaction, the chief operating officer now directly owns 363,375 shares of the company's stock, valued at $13,928,163.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Waddill sold 3,200 shares of the firm's stock in a transaction on Monday, January 9th. The shares were sold at an average price of $30.00, for a total transaction of $96,000.00. Following the transaction, the director now directly owns 28,950 shares of the company's stock, valued at $868,500. The disclosure for this sale can be found here. Insiders sold a total of 109,966 shares of company stock valued at $4,050,435 over the last three months. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Arrowhead Pharmaceuticals by 1.2% in the 1st quarter. BlackRock Inc. now owns 12,155,084 shares of the biotechnology company's stock worth $559,014,000 after acquiring an additional 147,021 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Arrowhead Pharmaceuticals by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,145,990 shares of the biotechnology company's stock valued at $335,325,000 after buying an additional 76,653 shares in the last quarter. State Street Corp lifted its holdings in Arrowhead Pharmaceuticals by 19.2% during the 2nd quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company's stock valued at $196,568,000 after buying an additional 900,791 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Arrowhead Pharmaceuticals by 2.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,990,815 shares of the biotechnology company's stock valued at $105,306,000 after buying an additional 69,862 shares in the last quarter. Finally, FMR LLC lifted its holdings in Arrowhead Pharmaceuticals by 96.1% during the 2nd quarter. FMR LLC now owns 2,742,968 shares of the biotechnology company's stock valued at $96,580,000 after buying an additional 1,344,444 shares in the last quarter. Institutional investors own 65.46% of the company's stock.

Arrowhead Pharmaceuticals Trading Down 3.1 %

Arrowhead Pharmaceuticals stock opened at $32.70 on Tuesday. The firm has a 50-day moving average price of $33.89 and a 200-day moving average price of $36.57. The firm has a market capitalization of $3.47 billion, a PE ratio of -19.46 and a beta of 1.26. Arrowhead Pharmaceuticals has a 12-month low of $26.81 and a 12-month high of $56.25.

Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Rating) last released its earnings results on Monday, November 28th. The biotechnology company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.24). The firm had revenue of $31.58 million during the quarter, compared to the consensus estimate of $107.60 million. Arrowhead Pharmaceuticals had a negative return on equity of 40.23% and a negative net margin of 71.01%. As a group, sell-side analysts predict that Arrowhead Pharmaceuticals will post -0.86 earnings per share for the current fiscal year.

About Arrowhead Pharmaceuticals

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Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the development of medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC.