Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Down 6.3% – Here’s What Happened

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)’s share price fell 6.3% during trading on Friday . The stock traded as low as $20.03 and last traded at $20.06. 121,572 shares changed hands during trading, a decline of 90% from the average session volume of 1,193,663 shares. The stock had previously closed at $21.41.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ARWR shares. Cantor Fitzgerald restated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. HC Wainwright reissued a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Friday, October 11th. Piper Sandler reaffirmed an “overweight” rating and set a $62.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, September 26th. Finally, B. Riley reiterated a “buy” rating and issued a $55.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.33.

Arrowhead Pharmaceuticals Price Performance

The firm’s fifty day moving average is $20.11 and its 200-day moving average is $23.42. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -3.98 and a beta of 0.93.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ARWR. Geode Capital Management LLC grew its position in shares of Arrowhead Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,964,119 shares of the biotechnology company’s stock valued at $57,426,000 after buying an additional 26,171 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter worth about $345,000. Wellington Management Group LLP raised its holdings in Arrowhead Pharmaceuticals by 1.5% during the third quarter. Wellington Management Group LLP now owns 61,904 shares of the biotechnology company’s stock worth $1,199,000 after purchasing an additional 886 shares in the last quarter. State Street Corp lifted its holdings in shares of Arrowhead Pharmaceuticals by 8.8% in the third quarter. State Street Corp now owns 6,354,331 shares of the biotechnology company’s stock valued at $123,083,000 after buying an additional 516,569 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in Arrowhead Pharmaceuticals by 11.5% in the 3rd quarter. HighTower Advisors LLC now owns 123,477 shares of the biotechnology company’s stock valued at $2,401,000 after acquiring an additional 12,706 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

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.