Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Arrowhead Pharmaceuticals Inc. shares valued at $168,180 were sold by Hamilton James C on Apr 01 ’24. At $28.03 per share, Hamilton James C sold 6,000 shares. The insider’s holdings dropped to 204,851 shares worth approximately $5.26 million following the completion of this transaction.
Also, Lu Hongbo purchased 1,000 shares, netting a total of over 27,500 in proceeds. Following the buying of shares at $27.50 each, the insider now holds 33,680 shares.
Before that, Lu Hongbo had added 1,000 shares to its account. In a trade valued at $28,000, the Director bought Arrowhead Pharmaceuticals Inc. shares for $28.00 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $0.84 million.
As published in their initiating research note from BofA Securities on December 04, 2023, Arrowhead Pharmaceuticals Inc. [ARWR] has been a Buy and the price target has been revised to $29. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid September. As of July 21, 2023, TD Cowen has initiated its “an Outperform” rating for ARWR. Earlier on May 12, 2023, SVB Securities downgraded its rating. Their new recommendation was “a Market perform” for ARWR stock which previously was a “an Outperform”.
Analyzing ARWR Stock Performance
During the last five days, there has been a drop of approximately -1.65%. Over the course of the year, Arrowhead Pharmaceuticals Inc. shares have dropped approximately -16.08%. Shares of the company reached a 52-week high of $39.83 on 01/10/24 and a 52-week low of $24.81 on 04/10/24. A 50-day SMA is recorded $29.87, while a 200-day SMA reached $29.67. Nevertheless, trading volume fell to 0.69 million shares from 0.67 million shares the previous day.
Support And Resistance Levels for Arrowhead Pharmaceuticals Inc. (ARWR)
According to the 24-hour chart, there is a support level at 25.37, which, if violated, would cause prices to drop to 25.06. In the upper region, resistance lies at 25.90. The next price resistance is at 26.11. RSI (Relative Strength Index) is 37.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.09, which suggests the price will decrease in the coming days. Percent R is at 79.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Arrowhead Pharmaceuticals Inc. subject to short interest?
Stocks of Arrowhead Pharmaceuticals Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 30000.0 shares to 8.87 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 8.84 million shares. A jump of 0.34% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.77 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.77.
