Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) Sees Significant Decline in Short Interest

Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 11,120,000 shares, a drop of 8.9% from the December 15th total of 12,200,000 shares. Based on an average trading volume of 2,260,000 shares, the short-interest ratio is currently 4.9 days. Currently, 11.9% of the shares of the company are short sold.

In related news, CEO Christopher Richard Anzalone sold 37,967 shares of Arrowhead Pharmaceuticals stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $69.15, for a total transaction of $2,625,418.05. Following the completion of the sale, the chief executive officer now owns 2,116,160 shares of the company’s stock, valued at approximately $146,332,464. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kenneth Allen Myszkowski sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $60.11, for a total transaction of $1,202,200.00. Following the sale, the chief financial officer now directly owns 403,592 shares of the company’s stock, valued at approximately $24,259,915.12. The disclosure for this sale can be found here. In the last three months, insiders sold 246,089 shares of company stock valued at $15,145,844. Insiders own 4.80% of the company’s stock.

Several large investors have recently modified their holdings of ARWR. BlackRock Inc. raised its position in shares of Arrowhead Pharmaceuticals by 94.5% in the 2nd quarter. BlackRock Inc. now owns 14,841,966 shares of the biotechnology company’s stock valued at $393,313,000 after buying an additional 7,210,892 shares in the last quarter. Invesco Ltd. raised its position in shares of Arrowhead Pharmaceuticals by 550.5% in the 2nd quarter. Invesco Ltd. now owns 4,820,607 shares of the biotechnology company’s stock valued at $127,747,000 after buying an additional 4,079,523 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Arrowhead Pharmaceuticals by 75.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,637,838 shares of the biotechnology company’s stock valued at $228,903,000 after buying an additional 3,712,392 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Arrowhead Pharmaceuticals by 184.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,063,856 shares of the biotechnology company’s stock valued at $28,193,000 after buying an additional 689,592 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Arrowhead Pharmaceuticals by 362.9% in the 2nd quarter. Renaissance Technologies LLC now owns 788,800 shares of the biotechnology company’s stock valued at $20,903,000 after buying an additional 618,400 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Shares of NASDAQ:ARWR traded up $0.32 during midday trading on Thursday, hitting $57.25. The stock had a trading volume of 391,233 shares, compared to its average volume of 2,226,879. The company’s 50-day moving average price is $64.56 and its 200-day moving average price is $41.19. The company has a market capitalization of $5.50 billion, a P/E ratio of 82.97 and a beta of 1.97. Arrowhead Pharmaceuticals has a fifty-two week low of $12.51 and a fifty-two week high of $73.72.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Monday, November 25th. The biotechnology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The firm had revenue of $43.29 million during the quarter, compared to analyst estimates of $36.97 million. Arrowhead Pharmaceuticals had a net margin of 40.27% and a return on equity of 32.30%. As a group, equities research analysts expect that Arrowhead Pharmaceuticals will post -0.36 earnings per share for the current fiscal year.

A number of analysts have issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective (up previously from $24.00) on shares of Arrowhead Pharmaceuticals in a report on Tuesday, November 19th. S&P Equity Research reissued a “buy” rating on shares of Arrowhead Pharmaceuticals in a report on Tuesday, November 26th. Robert W. Baird raised shares of Arrowhead Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $39.00 to $70.00 in a report on Monday, November 25th. Oppenheimer assumed coverage on shares of Arrowhead Pharmaceuticals in a report on Thursday, December 12th. They issued a “hold” rating for the company. Finally, B. Riley reissued a “buy” rating and issued a $83.00 price objective (up previously from $59.00) on shares of Arrowhead Pharmaceuticals in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $72.80.

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.

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