Arcturus Therapeutics (NASDAQ:ARCT) Earns “Buy” Rating from HC Wainwright

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $63.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 287.93% from the stock’s current price.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcturus Therapeutics in a report on Monday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $66.75.

Arcturus Therapeutics Stock Performance

Shares of ARCT stock opened at $16.24 on Tuesday. The stock’s 50-day simple moving average is $18.91 and its 200-day simple moving average is $22.21. The firm has a market capitalization of $439.89 million, a PE ratio of -7.32 and a beta of 2.62. Arcturus Therapeutics has a fifty-two week low of $14.93 and a fifty-two week high of $45.00.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.44. The firm had revenue of $41.67 million for the quarter, compared to the consensus estimate of $49.16 million. Arcturus Therapeutics had a negative return on equity of 22.39% and a negative net margin of 36.39%. During the same quarter in the prior year, the business earned ($0.61) earnings per share. Sell-side analysts forecast that Arcturus Therapeutics will post -2.31 earnings per share for the current year.

Insider Transactions at Arcturus Therapeutics

In related news, COO Pad Chivukula sold 12,000 shares of the business’s stock in a transaction dated 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 owns 435,334 shares in the company, valued at $9,037,533.84. The trade was a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 15.30% of the company’s stock.

Institutional Investors Weigh In On Arcturus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Arcturus Therapeutics by 45.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,275,715 shares of the biotechnology company’s stock worth $52,819,000 after acquiring an additional 712,650 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of Arcturus Therapeutics by 6.9% during the 3rd quarter. ARK Investment Management LLC now owns 2,101,038 shares of the biotechnology company’s stock worth $48,765,000 after acquiring an additional 136,074 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Arcturus Therapeutics by 250.1% during 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. Geode Capital Management LLC boosted its stake in shares of Arcturus Therapeutics by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 551,798 shares of the biotechnology company’s stock worth $12,810,000 after acquiring an additional 5,789 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $4,587,000 after buying an additional 3,224 shares in the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.

About Arcturus Therapeutics

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.