Arrowhead Pharmaceuticals CFO Kenneth Myszkowski Sells Stock For $893,095 By Investing.com
Following these transactions, Myszkowski retains direct ownership of 455,433 shares of Arrowhead Pharmaceuticals (NASDAQ: ). The company, based in Pasadena, California, is engaged in the development of pharmaceutical preparations. Analysts’ price ranges for the stock range from $24 to $80, suggesting significant upside potential. For a more in-depth look at ARWR’s valuation and financial condition, investors can access the comprehensive Pro Research Report available at InvestingProwhich covers more than 1,400 US stocks. Analyst price ranges for the stock range from $24 to $80, suggesting significant upside potential. For a more in-depth look at ARWR’s valuation and financial condition, investors can access the comprehensive Pro Research Report available at InvestingProwhich covers more than 1,400 US stocks.
The sale lasted for three days, and the shares were sold at different prices. On January 6, 2025, Myszkowski sold 27,167 shares at prices ranging from $19.68 to $20.10, for a total of $696,195. The next day, he sold an additional 17,000 shares at $19.69 per share, for a total of $196,900.
These transactions were conducted under a pre-determined 10b5-1 trading plan, which allows individuals from the company to sell a predetermined number of shares at a specific time. The sale was made in part to cover tax liabilities related to restricted stock, as noted in the filing notes. According to InvestingPro analysis, while the company maintains strong liquidity with a current ratio of 6.74, it is currently experiencing rapid cash loss.
Following these transactions, Myszkowski retains direct ownership of 455,433 shares of Arrowhead Pharmaceuticals. The company, based in Pasadena, California, is engaged in the development of pharmaceutical preparations.
In other recent news, Arrowhead Pharma is making significant progress in its business and strategic partnerships. A significant agreement on licensing and cooperation with the company Sarepta Therapeutics (NASDAQ: ), which includes an upfront payment of $850 million and potential additional payments totaling $550 million, is expected to support Arrowhead’s financial stability through 2028. In addition, Arrowhead has filed a new drug application (NDA) for plozasiran, a potential treatment for familial chylomicronemia syndrome (FCS). The company is also involved in several Phase III trials, including SHASTA-3 and SHASTA-4 for severe hypertriglyceridemia (SHTG), as well as the MUIR-3 trial for homozygous genetic triglyceridemia (HGT).
Analysts followed this development closely. B.Riley reiterated his Buy rating on Arrowhead shares, highlighting the company’s dominance of the siRNA therapeutics market and potential benefits from the recent FDA approval of a similar drug, Tryngolza. Meanwhile, HC Wainwright maintained a Buy rating, raising its price target on the stock from $60.00 to $80.00, and Piper Sandler cut its 12-month price target to $45 from $62 previously, while maintaining an Overweight rating. These ratings reflect analysts’ confidence in Arrowhead’s financial prospects and ongoing clinical development.
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