At least seven teenagers were cited for disorderly conduct after chaos broke out as hundreds gathered near Broad Street and Cecil B. Moore Avenue at about 5 p.m. Saturday.
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The suspect, who was described as wearing a camouflage jacket and brown sweatpants, left the scene.
On Tuesday, Philadelphia police executed a search warrant on the 2700 block of N. Hancock Street.
A stolen gun, believed to be the weapon used in the shooting, was recovered, police said. The suspect was also found at the home and was taken into custody.
The suspect was charged with theft, receiving stolen property and gun crimes, police said.
RELATED: Police investigate shots fired after large crowd gathers near Temple University
Temple police said the large gathering was advertised as a meet-up on social media and then got out of hand.
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Video shows the moment up to 500 teenagers started to run after the shots were fired.
Action News has been told that the teens were out there running in and out of traffic before someone fired the gun.
Luckily, police say no one was hurt.
University officials said they don't believe any students were involved.
Anyone with information is asked to call 215-686-3093.