Arcturus Therapeutics (NASDAQ:ARCT) Shares Up 11.1%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s share price traded up 11.1% during trading on Thursday . The stock traded as high as $24.34 and last traded at $24.15. 289,463 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 527,843 shares. The stock had previously closed at $21.73.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Canaccord Genuity Group decreased their target price on Arcturus Therapeutics from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, May 10th. HC Wainwright reissued a “buy” rating and issued a $60.00 price objective on shares of Arcturus Therapeutics in a research report on Tuesday, July 2nd. Finally, William Blair reiterated an “outperform” rating on shares of Arcturus Therapeutics in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Arcturus Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $64.86.

Arcturus Therapeutics Trading Up 9.3 %

The firm’s 50-day moving average price is $29.36 and its two-hundred day moving average price is $32.12. The stock has a market cap of $639.86 million, a PE ratio of -6.08 and a beta of 2.64.

Arcturus Therapeutics (NASDAQ:ARCT) last announced its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.17) by $0.17. The business had revenue of $38.01 million for the quarter, compared to analysts’ expectations of $22.12 million. Arcturus Therapeutics had a negative return on equity of 37.61% and a negative net margin of 81.59%. On average, analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -4.39 earnings per share for the current year.

Insider Activity

In related news, COO Pad Chivukula sold 26,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $40.01, for a total transaction of $1,040,260.00. Following the completion of the transaction, the chief operating officer now owns 447,448 shares in the company, valued at approximately $17,902,394.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new stake in Arcturus Therapeutics in the first quarter worth about $40,000. AJOVista LLC purchased a new stake in Arcturus Therapeutics during the 4th quarter worth approximately $65,000. Quest Partners LLC acquired a new position in Arcturus Therapeutics during the 4th quarter valued at approximately $67,000. Public Employees Retirement System of Ohio purchased a new position in shares of Arcturus Therapeutics in the fourth quarter worth $89,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Arcturus Therapeutics by 352.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,089 shares of the biotechnology company’s stock worth $97,000 after buying an additional 2,406 shares during the period. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc, a late-stage clinical messenger RNA medicines and vaccine company, focuses on the development of infectious disease vaccines and other products within liver and respiratory rare diseases. Its technology platforms include LUNAR lipid-mediated delivery and STARR mRNA.