Insider Selling: Arrowhead Pharmaceuticals (NASDAQ:ARWR) CFO Sells 13,095 Shares of Stock

Key Points

• CFO Daniel Apel sold 13,095 shares on April 22 under a pre-arranged Rule 10b5-1 plan at an average of $71.35, raising about $934,328 to cover tax withholding from vested awards and reducing his ownership by 7.44% to 162,905 shares.
• Company and stock context: ARWR traded around $73.91 (market cap ~$10.35B); the company posted $0.22 EPS last quarter (missing the $0.60 estimate) but beat revenue expectations with $264M, and analysts hold a consensus "Moderate Buy" with an average target of ~$83.78.

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) CFO Daniel Joseph Apel sold 13,095 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $71.35, for a total transaction of $934,328.25. Following the sale, 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 legal filing with the Securities & Exchange Commission, 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

ARWR stock traded down $0.49 on Friday, hitting $73.91. 1,639,041 shares of the company's stock traded hands, compared to its average volume of 2,749,030. Arrowhead Pharmaceuticals, Inc. has a 1-year low of $12.44 and a 1-year high of $76.76. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 48.31 and a beta of 1.26. The stock has a fifty day moving average of $62.63 and a 200-day moving average of $57.95. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.29.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The biotechnology company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.38). The firm had revenue of $264.03 million during the quarter, compared to analysts' expectations 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 was up 10461.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.39) EPS. On average, analysts forecast that Arrowhead Pharmaceuticals, Inc. will post -3.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. CWM LLC increased its stake in shares of Arrowhead Pharmaceuticals by 1.4% during the 4th quarter. CWM LLC now owns 12,347 shares of the biotechnology company's stock worth $820,000 after purchasing an additional 168 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Arrowhead Pharmaceuticals by 1.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the biotechnology company's stock worth $737,000 after purchasing an additional 178 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Arrowhead Pharmaceuticals by 0.3% during the 4th quarter. HighTower Advisors LLC now owns 133,229 shares of the biotechnology company's stock worth $8,845,000 after purchasing an additional 340 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Arrowhead Pharmaceuticals by 1.8% during the 4th quarter. Maryland State Retirement & Pension System now owns 20,241 shares of the biotechnology company's stock worth $1,344,000 after purchasing an additional 365 shares during the last quarter. Finally, Tsfg LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the 4th quarter worth $25,000. Institutional investors and hedge funds own 62.61% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ARWR shares. Chardan Capital upped their price target on shares of Arrowhead Pharmaceuticals from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, January 7th. The Goldman Sachs Group upped their price target on shares of Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 7th. Piper Sandler reiterated an "overweight" rating and issued a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, January 13th. Weiss Ratings upgraded shares of Arrowhead Pharmaceuticals from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Friday, February 6th. Finally, Morgan Stanley upgraded shares of Arrowhead Pharmaceuticals from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $78.00 to $100.00 in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.78.

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.

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