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Investors Purchase Large Volume of Put Options on Arrowhead Pharmaceuticals (NASDAQ:ARWR)

Wednesday, September 16, 2020 | MarketBeat

Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) was the recipient of some unusual options trading on Wednesday. Investors acquired 4,220 put options on the company. This represents an increase of 2,505% compared to the average volume of 162 put options.

NASDAQ ARWR opened at $47.43 on Thursday. The firm has a market cap of $4.85 billion, a P/E ratio of -189.72 and a beta of 1.67. The stock's 50-day moving average is $40.54 and its 200-day moving average is $37.10. Arrowhead Pharmaceuticals has a one year low of $19.51 and a one year high of $73.72.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported ($0.13) EPS for the quarter, missing the Zacks' consensus estimate of ($0.07) by ($0.06). The business had revenue of $27.38 million for the quarter, compared to analyst estimates of $38.76 million. Arrowhead Pharmaceuticals had a negative return on equity of 5.65% and a negative net margin of 19.75%. As a group, analysts anticipate that Arrowhead Pharmaceuticals will post -0.48 EPS for the current fiscal year.

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 50,000 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $41.35, for a total value of $2,067,500.00. Following the sale, the chief executive officer now directly owns 2,655,237 shares in the company, valued at $109,794,049.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company's stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 0.9% during the second quarter. Vanguard Group Inc. now owns 9,719,363 shares of the biotechnology company's stock worth $419,779,000 after buying an additional 90,837 shares in the last quarter. State Street Corp grew its holdings in shares of Arrowhead Pharmaceuticals by 4.1% during the first quarter. State Street Corp now owns 4,294,674 shares of the biotechnology company's stock worth $123,558,000 after buying an additional 170,204 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Arrowhead Pharmaceuticals by 5.8% during the first quarter. Geode Capital Management LLC now owns 1,515,643 shares of the biotechnology company's stock worth $43,605,000 after buying an additional 83,282 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Arrowhead Pharmaceuticals during the second quarter worth about $51,388,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Arrowhead Pharmaceuticals by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,096,297 shares of the biotechnology company's stock worth $47,349,000 after buying an additional 30,699 shares in the last quarter. 66.34% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the company. ValuEngine upgraded Arrowhead Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. TheStreet cut Arrowhead Pharmaceuticals from a "c-" rating to a "d+" rating in a report on Thursday, September 3rd. HC Wainwright reiterated a "buy" rating on shares of Arrowhead Pharmaceuticals in a report on Monday, August 24th. BidaskClub cut Arrowhead Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday, September 12th. Finally, Chardan Capital reiterated a "buy" rating and issued a $81.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, July 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Arrowhead Pharmaceuticals currently has an average rating of "Buy" and an average target price of $62.00.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.

Further Reading: Capital Gains

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View the "7 Valuable China Stocks That May Get Delisted".

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