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

Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 8,650,000 shares, a decline of 17.2% from the August 15th total of 10,450,000 shares. Based on an average daily trading volume, of 1,020,000 shares, the days-to-cover ratio is currently 8.5 days.

Arrowhead Pharmaceuticals Stock Down 4.8 %

NASDAQ:ARWR opened at $20.45 on Tuesday. The firm has a 50-day moving average price of $25.25 and a 200 day moving average price of $25.70. The firm has a market capitalization of $2.54 billion, a PE ratio of -4.81 and a beta of 0.96. Arrowhead Pharmaceuticals has a 12-month low of $20.14 and a 12-month high of $39.83.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80). Arrowhead Pharmaceuticals had a negative return on equity of 152.95% and a negative net margin of 163.32%. During the same period last year, the firm earned ($0.96) earnings per share. The company’s quarterly revenue was down 100.0% on a year-over-year basis. On average, research analysts expect that Arrowhead Pharmaceuticals will post -4.31 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on ARWR shares. StockNews.com upgraded shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Thursday, August 1st. B. Riley reaffirmed a “buy” rating and issued a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Monday, August 12th. The Goldman Sachs Group initiated coverage on Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price objective for the company. Chardan Capital restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.25.

Insider Activity

In other Arrowhead Pharmaceuticals news, insider Tracie Oliver sold 9,394 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the sale, the insider now directly owns 127,107 shares of the company’s stock, valued at $3,213,264.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Arrowhead Pharmaceuticals by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 12,404,050 shares of the biotechnology company’s stock worth $354,756,000 after purchasing an additional 1,731,974 shares in the last quarter. Norges Bank acquired a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter worth approximately $40,451,000. Goldman Sachs Group Inc. raised its stake in shares of Arrowhead Pharmaceuticals by 136.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,061,967 shares of the biotechnology company’s stock valued at $32,496,000 after acquiring an additional 613,067 shares during the last quarter. Eventide Asset Management LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth approximately $9,587,000. Finally, American International Group Inc. increased its holdings in Arrowhead Pharmaceuticals by 13.4% during the 1st quarter. American International Group Inc. now owns 220,217 shares of the biotechnology company’s stock valued at $6,298,000 after purchasing an additional 26,009 shares in the last quarter. Institutional investors and hedge funds 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.