HC Wainwright Reaffirms “Neutral” Rating for Arcturus Therapeutics (NASDAQ:ARCT)

Arcturus Therapeutics (NASDAQ:ARCT)‘s stock had its “neutral” rating reaffirmed by research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $12.00 price objective on the biotechnology company’s stock, down from their previous price objective of $60.00.

ARCT has been the topic of a number of other research reports. Wells Fargo & Company dropped their target price on shares of Arcturus Therapeutics from $42.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday. Wall Street Zen upgraded shares of Arcturus Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. BTIG Research dropped their target price on shares of Arcturus Therapeutics from $48.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday. Zacks Research upgraded shares of Arcturus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, Citigroup downgraded shares of Arcturus Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $49.00 to $12.00 in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Arcturus Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $31.71.

Arcturus Therapeutics Stock Performance

Shares of NASDAQ ARCT opened at $12.00 on Friday. The company has a market capitalization of $325.86 million, a P/E ratio of -5.38 and a beta of 2.39. Arcturus Therapeutics has a 52-week low of $8.04 and a 52-week high of $24.17. The company’s 50 day moving average price is $18.88 and its 200-day moving average price is $14.74.

Arcturus Therapeutics (NASDAQ:ARCT) last issued its quarterly earnings results on Monday, August 11th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.77. Arcturus Therapeutics had a negative net margin of 49.26% and a negative return on equity of 24.87%. The firm had revenue of $28.30 million for the quarter, compared to the consensus estimate of $17.64 million. Analysts forecast that Arcturus Therapeutics will post -2.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARCT. Osaic Holdings Inc. raised its holdings in Arcturus Therapeutics by 51.8% during the second quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock worth $28,000 after buying an additional 738 shares during the last quarter. US Bancorp DE raised its holdings in Arcturus Therapeutics by 218.9% during the first quarter. US Bancorp DE now owns 3,393 shares of the biotechnology company’s stock worth $36,000 after buying an additional 2,329 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Arcturus Therapeutics by 163.4% during the second quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock worth $54,000 after buying an additional 2,586 shares during the last quarter. Strs Ohio acquired a new position in Arcturus Therapeutics during the first quarter worth $89,000. Finally, Russell Investments Group Ltd. raised its holdings in Arcturus Therapeutics by 40,686.2% during the first quarter. Russell Investments Group Ltd. now owns 11,828 shares of the biotechnology company’s stock worth $125,000 after buying an additional 11,799 shares during the last quarter. Institutional investors and hedge funds 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.