Arcturus Therapeutics (NASDAQ:ARCT) Shares Down 4.5%

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) was down 4.5% on Thursday . The company traded as low as $19.75 and last traded at $20.03. Approximately 19,939 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 492,116 shares. The stock had previously closed at $20.98.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ARCT shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday. Leerink Partners assumed coverage on shares of Arcturus Therapeutics in a research report on Monday, August 12th. They set an “outperform” rating and a $70.00 target price on the stock. HC Wainwright increased their target price on shares of Arcturus Therapeutics from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Leerink Partnrs raised shares of Arcturus Therapeutics to a “strong-buy” rating in a research report on Monday, August 12th. Finally, William Blair reissued an “outperform” rating on shares of Arcturus Therapeutics in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $71.40.

Arcturus Therapeutics Price Performance

The stock’s fifty day simple moving average is $21.39 and its 200-day simple moving average is $28.07. The company has a market capitalization of $535.95 million, a P/E ratio of -5.03 and a beta of 2.60.

Arcturus Therapeutics (NASDAQ:ARCT) last released its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.85) by $1.21. Arcturus Therapeutics had a negative net margin of 41.21% and a negative return on equity of 25.47%. The company had revenue of $49.86 million during the quarter, compared to analysts’ expectations of $21.00 million. During the same period in the prior year, the company earned ($1.98) earnings per share. On average, research analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.6 earnings per share for the current year.

Institutional Investors Weigh In On Arcturus Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Scientech Research LLC bought a new stake in shares of Arcturus Therapeutics in the second quarter valued at about $374,000. Millennium Management LLC increased its holdings in shares of Arcturus Therapeutics by 250.1% during the second quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock worth $13,515,000 after buying an additional 396,505 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of Arcturus Therapeutics during the second quarter worth approximately $958,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Arcturus Therapeutics during the second quarter worth approximately $142,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Arcturus Therapeutics during the second quarter worth approximately $718,000. Institutional investors own 94.54% of the company’s stock.

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.