Portolan Capital Management LLC Sells 355,763 Shares of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)

Portolan Capital Management LLC lowered its position in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) by 73.4% in the 3rd quarter, Holdings Channel reports. The fund owned 129,144 shares of the biotechnology company’s stock after selling 355,763 shares during the quarter. Portolan Capital Management LLC’s holdings in Arcturus Therapeutics were worth $2,997,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. PDT Partners LLC bought a new position in shares of Arcturus Therapeutics in the 3rd quarter worth approximately $1,744,000. Verition Fund Management LLC bought a new position in shares of Arcturus Therapeutics in the 3rd quarter worth approximately $420,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Arcturus Therapeutics by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,694 shares of the biotechnology company’s stock worth $202,000 after acquiring an additional 846 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Arcturus Therapeutics by 954.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,831 shares of the biotechnology company’s stock worth $367,000 after acquiring an additional 14,330 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Arcturus Therapeutics by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 197,622 shares of the biotechnology company’s stock worth $4,587,000 after acquiring an additional 3,224 shares in the last quarter. Institutional investors own 94.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ARCT. Cantor Fitzgerald restated an “overweight” rating on shares of Arcturus Therapeutics in a research note on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $63.00 price target on shares of Arcturus Therapeutics in a research note on Friday, November 8th. Leerink Partnrs upgraded Arcturus Therapeutics to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Leerink Partners began coverage on Arcturus Therapeutics in a research note on Monday, August 12th. They issued an “outperform” rating and a $70.00 price target on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Arcturus Therapeutics has a consensus rating of “Buy” and a consensus target price of $71.40.

Insider Buying and Selling at Arcturus Therapeutics

In other news, COO Pad Chivukula sold 12,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $20.76, for a total value of $249,120.00. Following the transaction, the chief operating officer now directly owns 435,334 shares in the company, valued at $9,037,533.84. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 15.30% of the company’s stock.

Arcturus Therapeutics Trading Down 3.8 %

Shares of ARCT opened at $17.22 on Thursday. The business’s fifty day simple moving average is $19.70 and its two-hundred day simple moving average is $22.99. Arcturus Therapeutics Holdings Inc. has a 12 month low of $14.93 and a 12 month high of $45.00. The company has a market cap of $466.49 million, a price-to-earnings ratio of -7.76 and a beta of 2.62.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.44. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. The business had revenue of $41.67 million for the quarter, compared to the consensus estimate of $49.16 million. During the same period last year, the business posted ($0.61) EPS. As a group, research analysts forecast that Arcturus Therapeutics Holdings Inc. will post -2.31 EPS for the current year.

Arcturus Therapeutics 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.