ARROWHEAD PHARMACEUTICALS, INC.
ARWR · Pharmaceutical Preparations · 140.9M shares · +2%/yr ↑ shares · EDGAR filings ↗
Reference price $76.88 · est. market cap ~$10.8B — last insider sale, 2026-05-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C64RNAi-platform biotech near breakeven on partnership revenue with strong FCF this year, funded.
Strengths
- Strong free cash flow this year — FCF $157M (90th), FCF margin 19%
- Strong liquidity — current ratio 4.9 (57th)
- Validated RNAi platform with major partnerships — per 10-K
Risks
- Near-breakeven, partnership-lumpy economics — net margin -0%
- Pipeline/clinical dependence — per 10-K
- Funding needs as programs advance — per 10-K
Notable findings
- Net lossNet loss (net margin -0.2%)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Insider sellingInsider selling — 27 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$9M, last 6mo) Form 4 ↗
- Notable holderHeld by 6 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +3 more (as of 2026-03-31)
- Revenue declineRevenue -72.1% YoY
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
11.9%
Net margin
-0.2%
Return on equity
-0.3%
Return on assets
-0.1%
Revenue growth (QoQ)
-72.1%
Current ratio
4.9×
Free cash flow
$157M
EBITDA
$121M
Tangible book value
$459M
Stock comp / revenue
7.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Cohen Matthew Gregory | Grant | 12K | — |
| 2026-05-12 | Lu Hongbo | Sell | 3.0K | $76.88 |
| 2026-04-23 | Hamilton James C | Sell | 10K | $75.00 |
| 2026-04-22 | Apel Daniel Joseph | Sell | 1.2K | $70.45 |
| 2026-04-22 | Apel Daniel Joseph | Sell | 8.7K | $71.92 |
| 2026-04-22 | Apel Daniel Joseph | Sell | 3.2K | $70.11 |
| 2026-03-05 | Hamilton James C | Sell | 10K | $64.19 |
| 2026-01-06 | O'Brien Patrick | Grant | 75K | — |
| 2026-01-06 | Apel Daniel Joseph | Grant | 75K | — |
| 2026-01-06 | O'Brien Patrick | Gift | 540 | — |
| 2026-01-06 | O'Brien Patrick | Gift | 540 | — |
| 2026-01-06 | O'Brien Patrick | Gift | 440 | — |
| 2026-01-06 | O'Brien Patrick | Gift | 440 | — |
| 2026-01-06 | Hamilton James C | Grant | 75K | — |
| 2026-01-06 | O'Brien Patrick | Gift | 540 | — |
| 2026-01-05 | O'Brien Patrick | Sell | 900 | $62.25 |
| 2026-01-05 | Hamilton James C | Sell | 4.6K | $61.24 |
| 2026-01-05 | Hamilton James C | Sell | 6.1K | $62.28 |
| 2026-01-05 | Hamilton James C | Sell | 15K | $63.01 |
| 2026-01-05 | Hamilton James C | Sell | 13K | $63.95 |
| 2026-01-05 | Hamilton James C | Sell | 1.2K | $64.49 |
| 2026-01-05 | Hamilton James C | Sell | 437 | $65.97 |
| 2026-01-05 | Hamilton James C | Sell | 309 | $68.00 |
| 2026-01-05 | O'Brien Patrick | Sell | 4.4K | $61.20 |
| 2026-01-05 | O'Brien Patrick | Sell | 6.2K | $62.23 |
| 2026-01-05 | O'Brien Patrick | Sell | 13K | $62.96 |
| 2026-01-05 | O'Brien Patrick | Sell | 12K | $63.84 |
| 2026-01-05 | O'Brien Patrick | Sell | 2.7K | $64.44 |
| 2026-01-05 | O'Brien Patrick | Sell | 900 | $66.01 |
| 2026-01-05 | O'Brien Patrick | Sell | 313 | $68.00 |
| 2026-01-05 | O'Brien Patrick | Sell | 600 | $61.12 |
| 2026-01-05 | O'Brien Patrick | Sell | 5.9K | $62.91 |
| 2026-01-05 | O'Brien Patrick | Sell | 2.3K | $64.04 |
| 2026-01-05 | O'Brien Patrick | Sell | 46 | $68.00 |
| 2026-01-02 | Anzalone Christopher Richard | Sell | 5.8K | $66.39 |
| 2026-01-02 | Anzalone Christopher Richard | Sell | 7.4K | $65.88 |
| 2025-12-31 | O'Brien Patrick | Gift | 560 | — |
| 2025-12-31 | O'Brien Patrick | Gift | 560 | — |
| 2025-12-31 | O'Brien Patrick | Gift | 560 | — |
| 2025-12-31 | O'Brien Patrick | Gift | 560 | — |
| 2025-12-31 | O'Brien Patrick | Gift | 560 | — |
| 2025-12-29 | Anzalone Christopher Richard | Sell | 35K | $69.33 |
| 2025-12-29 | Anzalone Christopher Richard | Sell | 17K | $68.69 |
| 2025-12-29 | Anzalone Christopher Richard | Option exercise | 35K | $6.15 |
| 2025-12-29 | Anzalone Christopher Richard | Option exercise | 17K | $6.15 |
| 2025-12-26 | Ferrari Mauro | Sell | 7.5K | $70.00 |
| 2025-12-22 | Anzalone Christopher Richard | Sell | 10K | $68.33 |
| 2025-12-22 | Anzalone Christopher Richard | Sell | 2.6K | $68.85 |
| 2025-12-19 | OLUKOTUN ADEOYE Y | Sell | 827 | $68.48 |
| 2025-12-19 | Vakiener Victoria | Sell | 2.8K | $66.63 |
| 2025-12-19 | Vakiener Victoria | Sell | 5.3K | $67.97 |
| 2025-12-19 | Vakiener Victoria | Sell | 2.0K | $68.39 |
| 2025-12-19 | Waddill William D. | Sell | 2.4K | $66.66 |
| 2025-12-19 | Waddill William D. | Sell | 5.5K | $68.01 |
| 2025-12-19 | Waddill William D. | Sell | 500 | $68.53 |
| 2025-12-19 | Anzalone Christopher Richard | Sell | 4.0K | $66.67 |
| 2025-12-19 | Anzalone Christopher Richard | Sell | 8.1K | $68.01 |
| 2025-12-19 | Anzalone Christopher Richard | Sell | 1.3K | $68.48 |
| 2025-12-19 | OLUKOTUN ADEOYE Y | Sell | 3.1K | $66.70 |
| 2025-12-19 | OLUKOTUN ADEOYE Y | Sell | 6.1K | $68.04 |
| 2025-12-17 | Anzalone Christopher Richard | Sell | 982 | $65.53 |
| 2025-12-17 | Anzalone Christopher Richard | Sell | 2.0K | $66.30 |
| 2025-12-17 | Anzalone Christopher Richard | Sell | 36K | $64.51 |
| 2025-12-17 | Anzalone Christopher Richard | Sell | 46K | $63.55 |
| 2025-12-16 | Ferrari Mauro | Grant | 7.8K | — |
| 2025-12-16 | PERRY MICHAEL S | Grant | 7.8K | — |
| 2025-12-16 | OLUKOTUN ADEOYE Y | Grant | 7.8K | — |
| 2025-12-16 | INGRAM DOUGLAS S | Grant | 7.8K | — |
| 2025-12-16 | Anzalone Christopher Richard | Sell | 8.4K | $60.51 |
| 2025-12-16 | Vakiener Victoria | Grant | 7.8K | — |
| 2025-12-16 | Lu Hongbo | Grant | 7.8K | — |
| 2025-12-16 | Waddill William D. | Grant | 7.8K | — |
| 2025-12-16 | Anzalone Christopher Richard | Sell | 11K | $61.25 |
| 2025-12-16 | Anzalone Christopher Richard | Sell | 14K | $62.12 |
| 2025-12-16 | Anzalone Christopher Richard | Sell | 8.5K | $62.94 |
| 2025-12-16 | Anzalone Christopher Richard | Sell | 6.7K | $64.29 |
| 2025-12-16 | Anzalone Christopher Richard | Sell | 1.0K | $64.96 |
| 2025-12-16 | Anzalone Christopher Richard | Sell | 1.3K | $65.77 |
| 2025-12-16 | Anzalone Christopher Richard | Sell | 166 | $66.77 |
| 2025-12-16 | Anzalone Christopher Richard | Sell | 3.2K | $67.87 |
| 2025-12-15 | Anzalone Christopher Richard | Sell | 101K | $68.67 |
| 2025-12-15 | Anzalone Christopher Richard | Sell | 21K | $69.28 |
| 2025-12-15 | Anzalone Christopher Richard | Sell | 8.1K | $69.96 |
| 2025-12-12 | Anzalone Christopher Richard | Grant | 180K | — |
| 2025-12-05 | PERRY MICHAEL S | Sell | 16K | $61.03 |
| 2025-11-28 | Ferrari Mauro | Sell | 8.8K | $56.39 |
| 2025-10-01 | Hamilton James C | Sell | 20K | $35.00 |
| 2025-09-12 | Hamilton James C | Sell | 15K | $30.00 |
| 2025-09-02 | Hamilton James C | Sell | 15K | $25.00 |
| 2025-08-15 | Hamilton James C | Sell | 9.4K | $20.00 |
| 2025-08-13 | Hamilton James C | Sell | 611 | $20.00 |
| 2025-04-11 | Anzalone Christopher Richard | Sell | 51K | $11.49 |
| 2025-04-10 | Anzalone Christopher Richard | Sell | 50K | $10.87 |
| 2025-04-09 | Anzalone Christopher Richard | Sell | 3.4K | $10.75 |
| 2025-04-09 | Anzalone Christopher Richard | Sell | 35K | $9.93 |
| 2025-04-09 | Anzalone Christopher Richard | Sell | 1.6K | $11.76 |
| 2025-03-13 | Anzalone Christopher Richard | Sell | 51K | $15.07 |
| 2025-03-13 | Anzalone Christopher Richard | Grant | 340K | — |
| 2025-03-04 | Anzalone Christopher Richard | Option exercise | 133K | $7.75 |
| 2025-03-04 | Anzalone Christopher Richard | Sell | 133K | $17.02 |
| 2025-03-03 | Anzalone Christopher Richard | Option exercise | 167K | $7.75 |
| 2025-03-03 | Anzalone Christopher Richard | Sell | 167K | $18.03 |
| 2025-02-07 | Anzalone Christopher Richard | Grant | 9.6K | $20.10 |
| 2025-02-06 | INGRAM DOUGLAS S | Grant | 38K | $20.09 |
| 2025-01-23 | OLUKOTUN ADEOYE Y | Sell | 959 | $21.00 |
| 2025-01-07 | O'Brien Patrick | Sell | 8.0K | $19.69 |
| 2025-01-07 | Myszkowski Kenneth Allen | Sell | 10K | $19.69 |
| 2025-01-07 | Myszkowski Kenneth Allen | Sell | 8.0K | $19.70 |
| 2025-01-06 | O'Brien Patrick | Sell | 9.5K | $20.10 |
| 2025-01-06 | Hamilton James C | Sell | 11K | $20.11 |
| 2025-01-06 | Myszkowski Kenneth Allen | Sell | 9.4K | $20.10 |
| 2025-01-06 | Myszkowski Kenneth Allen | Sell | 18K | $19.68 |
| 2025-01-06 | Hamilton James C | Sell | 22K | $19.68 |
| 2025-01-06 | O'Brien Patrick | Sell | 20K | $19.69 |
| 2025-01-04 | Hamilton James C | Grant | 100K | — |
| 2025-01-04 | O'Brien Patrick | Grant | 100K | — |
| 2025-01-04 | Myszkowski Kenneth Allen | Grant | 100K | — |
| 2025-01-02 | Anzalone Christopher Richard | Sell | 12K | $19.05 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (7)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-16 | Exec/director changeExhibits | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-03-20 | Shareholder voteExhibits | filing ↗ |
| 2026-02-05 | ResultsExhibits | filing ↗ |
| 2026-01-12 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-01-09 | Material agreementOtherExhibits | filing ↗ |
| 2026-01-06 | Reg FDOtherExhibits | filing ↗ |
| 2025-11-25 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-16 | 2026-06-12 | 0000879407-26-000050 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0000879407-26-000045 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0000879407-26-000047 ↗ |
| 8-K | 2026-03-20 | 2026-03-19 | 0000879407-26-000037 ↗ |
| 10-Q | 2026-02-05 | 2025-12-31 | 0000879407-26-000034 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0000879407-26-000033 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001193125-26-010582 ↗ |
| 8-K | 2026-01-09 | 2026-01-07 | 0001193125-26-007971 ↗ |
| 8-K | 2026-01-06 | 2026-01-06 | 0000879407-26-000004 ↗ |
| 10-K | 2025-11-25 | 2025-09-30 | 0000879407-25-000029 ↗ |
| 8-K | 2025-11-25 | 2025-11-25 | 0000879407-25-000027 ↗ |
| 8-K | 2025-11-18 | 2025-11-18 | 0000879407-25-000019 ↗ |