Michael S. Perry, a director at Arrowhead Pharmaceuticals (Nasdaq: ARWR), sold 11,600 shares of the company's stock worth $1 million on August 18, 2026. The transaction was disclosed via a Form 4 filing with the U.S. Securities and Exchange Commission, with an average selling price of $87.30 per share. Perry's move liquidated 9% of his direct holdings, but he still retains a 0.0791% stake in the company and holds unvested restricted stock units.