Anzalone Christopher Richard, Chief Executive Officer of Arrowhead Pharmaceuticals (ARWR), has been a consistent seller of company stock over the past several weeks, with no open-market purchases recorded in the recent filing data. Across 42 total transactions, his selling activity totals approximately $32.4 million, while his only acquisitions—about $192,000—came from option exercises (code M) that are mechanical in nature rather than discretionary buys. The pattern is unambiguous: 23 recent sales against zero buys, with the most active period spanning mid-December 2025 through early January 2026.
The selling has been heavy and sustained. On December 16 alone, Anzalone executed nine separate sales totaling roughly $3.4 million, with individual transactions ranging from about $11,000 to $875,000. The pace continued through December 17, when four sales brought in approximately $5.4 million, including two large blocks worth $2.3 million and $2.9 million. After a brief pause, he resumed selling on December 19, 22, and 29, with the latter date featuring two sales totaling $3.6 million alongside two option exercises valued at about $318,000 combined. The final reported transactions occurred on January 2, 2026, with two sales worth approximately $872,000.
Notably, the option exercises on December 29 appear to have been immediately paired with the large sales that same day, a common pattern where executives convert options and sell the resulting shares. The absence of any open-market purchases (code P) throughout the entire filing history underscores a purely distributional posture. While the sales are substantial in aggregate, they are spread across many individual transactions, suggesting a systematic liquidation rather than a single decisive exit. The data offers no insight into his rationale, but the directional bias is clear: Anzalone has been monetizing his ARWR holdings aggressively during this reporting window.
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