MTCR - Why did Arrowhead Pharmaceuticals stock pop up today?

• Arrowhead Pharmaceuticals ( ARWR ), a clinical-stage biotech focused on RNA interference (RNAi) therapeutics surged on above average volume on Wednesday in solidarity with several other drug developers targeting the liver disease, non-alcoholic steatohepatitis (NASH).
• Despite a YTD decline of ~50%, about 922.0K Arrowhead ( ARWR ) shares changed hands, compared to the 65-day average volume of ~859.5K shares.
• In the NASH space, Metacrine ( MTCR ), Enanta Pharmaceuticals ( ENTA ) and Intercept Pharmaceuticals ( ICPT ) were some of the other notable gainers as healthcare outperformed the broader market.
• Arrowhead ( ARWR ) shares fell for two consecutive days this week even after the company and Takeda ( TAK ) announced on Monday a peer-reviewed publication of a mid-stage readout for fazirsiran, an investigational drug for liver disease associated with alpha-1 antitrypsin deficiency.

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