Arrowhead Research Corporation (ARWR) : The short interest in Arrowhead Research Corporation (ARWR) has increased from 9,782,173 to 9,845,565 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 666,471 shares are traded daily in the stock and only 15 days are left for the shorts to cover. The short open interest is 18% of the total shares in the hands of the public. The shorts in the stock have gone up by 63,392 shares, which is an increase of 0.7% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.
Arrowhead Research Corporation (NASDAQ:ARWR): The stock opened at $8.20 on Wednesday but the bulls could not build on the opening and the stock topped out at $8.22 for the day. The stock traded down to $6.68 during the day, due to lack of any buying support eventually closed down at $6.89 with a loss of -14.73% for the day. The stock had closed at $8.08 on the previous day. The total traded volume was 3,086,414 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Chief Financial Officer) of Arrowhead Research Corp, Myszkowski Kenneth Allen had sold 23,347 shares worth of $143,117 in a transaction dated December 30, 2015. In this transaction, 23,347 shares were sold at $6.13 per share.
Arrowhead Research Corporation develops drugs to treat intractable diseases by silencing the genes that cause them. Using the broadest portfolio of RNA chemistries and efficient modes of delivery, the Companys therapies trigger the RNA interference mechanism to induce rapid, deep and durable knockdown of target genes. The Companys drug candidate in clinical development is ARC-520, which is designed to treat chronic hepatitis B infection by inhibiting the production of all HBV gene products. The goal is to reverse the immune suppression that prevents the body from controlling the virus and clearing the disease. Its second clinical candidate is ARC-AAT, a treatment for a rare liver disease associated with a genetic disorder that causes alpha-1 antitrypsin deficiency.