Arcturus Therapeutics (NASDAQ:ARCT) Trading Down 6.1% – Should You Sell?

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) was down 6.1% during mid-day trading on Thursday . The stock traded as low as $18.78 and last traded at $18.78. Approximately 135,496 shares traded hands during trading, a decline of 71% from the average daily volume of 473,141 shares. The stock had previously closed at $20.00.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ARCT shares. Leerink Partnrs raised shares of Arcturus Therapeutics to a “strong-buy” rating in a research note on Monday, August 12th. HC Wainwright reissued a “buy” rating and set a $63.00 target price on shares of Arcturus Therapeutics in a research note on Tuesday, October 1st. Leerink Partners started coverage on shares of Arcturus Therapeutics in a research note on Monday, August 12th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, September 9th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $71.40.

Arcturus Therapeutics Price Performance

The firm’s 50 day moving average is $21.16 and its 200 day moving average is $25.00. The company has a market capitalization of $510.36 million, a PE ratio of -4.85 and a beta of 2.61.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Monday, August 5th. The biotechnology company reported ($0.64) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $21.00 million. During the same period in the previous year, the firm earned ($1.98) earnings per share. As a group, analysts predict that Arcturus Therapeutics Holdings Inc. will post -2.6 EPS for the current fiscal year.

Insider Buying and Selling at Arcturus Therapeutics

In other Arcturus Therapeutics news, COO Pad Chivukula sold 12,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $20.76, for a total transaction of $249,120.00. Following the transaction, the chief operating officer now directly owns 435,334 shares of the company’s stock, valued at approximately $9,037,533.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Arcturus Therapeutics

A number of hedge funds have recently bought and sold shares of ARCT. ARK Investment Management LLC lifted its stake in Arcturus Therapeutics by 16.3% during the 2nd quarter. ARK Investment Management LLC now owns 1,964,964 shares of the biotechnology company’s stock valued at $47,847,000 after acquiring an additional 275,315 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Arcturus Therapeutics by 22.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,563,065 shares of the biotechnology company’s stock worth $38,061,000 after acquiring an additional 286,546 shares in the last quarter. Millennium Management LLC increased its holdings in Arcturus Therapeutics by 250.1% in the 2nd quarter. Millennium Management LLC now owns 555,024 shares of the biotechnology company’s stock worth $13,515,000 after acquiring an additional 396,505 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Arcturus Therapeutics by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 119,181 shares of the biotechnology company’s stock worth $2,902,000 after acquiring an additional 3,578 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Arcturus Therapeutics by 111.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 95,924 shares of the biotechnology company’s stock worth $3,239,000 after acquiring an additional 50,470 shares in the last quarter. 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.