Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT – Get Free Report)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.47 and traded as low as $6.80. Arcturus Therapeutics shares last traded at $6.82, with a volume of 336,731 shares trading hands.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on ARCT shares. Weiss Ratings upgraded Arcturus Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, April 21st. B. Riley Financial initiated coverage on shares of Arcturus Therapeutics in a research report on Wednesday, March 18th. They issued a “buy” rating and a $22.00 price objective for the company. Piper Sandler lowered their target price on shares of Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. Finally, Citigroup dropped their target price on shares of Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Arcturus Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $25.44.
Read Our Latest Analysis on Arcturus Therapeutics
Arcturus Therapeutics Stock Performance
Arcturus Therapeutics (NASDAQ:ARCT – Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The biotechnology company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.08. Arcturus Therapeutics had a negative return on equity of 36.55% and a negative net margin of 143.80%.The firm had revenue of $2.06 million during the quarter, compared to analysts’ expectations of $6.30 million. As a group, research analysts predict that Arcturus Therapeutics Holdings Inc. will post -3.99 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Arcturus Therapeutics
A number of institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC increased its stake in shares of Arcturus Therapeutics by 39.4% in the fourth quarter. ARK Investment Management LLC now owns 2,611,099 shares of the biotechnology company’s stock worth $16,006,000 after acquiring an additional 738,378 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Arcturus Therapeutics by 1,371.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 552,179 shares of the biotechnology company’s stock worth $10,177,000 after purchasing an additional 514,652 shares during the last quarter. Millennium Management LLC acquired a new position in Arcturus Therapeutics during the first quarter valued at $4,892,000. Bank of America Corp DE lifted its position in Arcturus Therapeutics by 112.0% during the third quarter. Bank of America Corp DE now owns 620,055 shares of the biotechnology company’s stock valued at $11,428,000 after purchasing an additional 327,626 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Arcturus Therapeutics by 12.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,288,935 shares of the biotechnology company’s stock valued at $17,671,000 after purchasing an additional 262,347 shares during the last quarter. 94.54% of the stock is owned by hedge funds and other institutional investors.
Arcturus Therapeutics Company Profile
Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus’s approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.
The company’s pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.
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